PepsiCo's new CEO for Americas Beverages

Albert P. Carey has been named the new chief executive of PepsiCo Americas Beverages.

Carey is a long-time executive, having been with the company for 30 years.

Most recently he was president and CEO of Frito-Lay North America since June 2006.

Tom Greco will take over the role of Frito-Lay president; he was most recently executive vice-president and chief commercial officer for Pepsi Beverages Co.

Pepsi also announced the impending retirement of Eric J. Foss, chief executive of Pepsi Beverages Co., who's led the division since February 2010 following the company's merger with its North American bottling operations. He will retire Dec. 9.

The North America beverages segment is currently a challenging competitive environment.