Incoming PepsiCo CEO appoints second-in-command
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- September
- 15
PepsiCo President Indra Nooyi, who will become chief executive officer on Oct. 1, has created the new executive post of CEO for North America.
John Compton, 45, a PepsiCo veteran with 23 years experience in snacks, beverages and foods, will report directly to Nooyi at the company’s headquarters in Purchase. Compton has been president and CEO of the company’s Quaker Tropicana Gatorade division since 2005. That position was based in Chicago, but Compton will be moving to the Lower Hudson Valley area, company spokesman Mark D. Dollins said.
The appointment means that worldwide operations at PepsiCo will be organized into two entities: the new North American division and the PepsiCo International division, which was formed in 2003. The chief of that unit is Mike White, who also reports to Nooyi.
Compton will oversee other top executives in charge of Pepsi’s Frito-Lay, Pepsi-Cola, Quaker Tropicana Gatorade and PepsiCo Sales divisions. The executive in charge of human resources and diversity will report to both Compton and Nooyi.
Matthew Reilly, a beverage industry analyst at Morningstar, said the appointment is “housekeeping� to reassign duties formerly performed by Nooyi as she steps up to her new role.
“It’s the inner workings of a CEO succession that looks like it will go smoothly,� he said. “I saw it and said, ‘That makes sense.’ �
The current chairman and CEO of PepsiCo, Steve Reinemund, is retiring as CEO on Oct. 1 and will retire as chairman in May 2007.
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on Friday, September 15th, 2006 at 4:45 pm by Julie Moran Alterio.
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