PepsiCo Chief Takes Chairman's Post

PepsiCo's Board of Directors elects Chief Executive Indra K. Nooyi to succeed Steven S. Reinemund as chairman when he retires in May 2007. Nooyi  joined PepsiCo in 1994 and led its global strategy for more than a decade. Nooyi served as chief financial officer before being named chief executive in October 2006. She oversaw the acquisitions of Quaker Oats and Tropicana and the spinoff of Yum Brands restaurants, including KFC and Taco Bell.