PepsiCo CEO to retire; executive shuffle announced

PepsiCo is bringing in new leadership in an effort to initiate some company changes in the new year.

The company announced Albert P. Carey, chief executive officer, PepsiCo North America, would retire at the end of March 2019 after nearly four decades at PepsiCo. As a result, the company has appointed separate chief executives for its Frito-Lay North America and North America Beverages subsidiaries. Vivek Sankaran, who currently serves as president and chief operating officer of Frito-Lay North America, will become its CEO, and Kirk Tanner, who currently serves as president and chief operating officer of North America Beverages, will become CEO of that division.

"Al's unique combination of style, skill, entrepreneurial spirit and executional excellence, has helped make PepsiCo one of the most admired businesses in the world, and raised the bar for our current and future associates," said Ramon Laguarta, PepsiCo chief executive officer, in a press release. "While Al leaves big shoes to fill, I have every confidence in our North America businesses under the skilled leadership of Vivek and Kirk in these critical roles."

The news comes shortly after the company’s previous CEO, Indra Nooyi, stepped down after 12 years. Many have speculated this would result in the company finally splitting its beverage and snack businesses.

The article appeared at StoreBrands.com.