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September 21, 2009

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PepsiCo executive to step down

PEPSICO Inc said on Saturday that Michael D. White will retire as vice chairman of the company and CEO of its International division after nearly 20 years at the soft drink maker.

White, 57, also will step down from the company's board at his retirement within a few months. He joined PepsiCo in 1990 as vice president of planning for Frito-Lay North America and has been a director since 2006.

Zein Abdalla, who becomes CEO of PepsiCo Europe, and Saad Abdul-Latif, who becomes CEO of PepsiCo Asia, Middle East, Africa, will assume White's duties.

In a statement, Indra Nooyi, PepsiCo chairman and CEO, said, "Close to a year ago, Mike shared with me his interest in eventually moving on to 'the next chapter' of his life. Since then we have been working together to ensure a smooth and orderly transition ... So we're well prepared for this change."

PepsiCo's brands include Pepsi drinks, Frito-Lay snacks and Quaker cereals.


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