PepsiCo Reveals New Global Structure and Leadership
PepsiCo, Inc. announced a new global structure and strengthened management team — important steps in PepsiCo's move to become a fully integrated, global food and beverage company. I
n the new structure, while the regions retain ownership of the P&L, PepsiCo's global groups will work across the regions to fully leverage the power and scale of the company. Consistent with this shift, PepsiCo announced the following leadership changes, effective immediately:
"Today marks an important and essential step in PepsiCo's journey to continue to deliver sustainable growth," said PepsiCo Chairman and CEO Indra K. Nooyi. "John and Brian are superb executives and will both contribute enormously in their new roles to ensure that we compete effectively and efficiently in the global marketplace."
As CEO, PepsiCo Americas Foods, Cornell will report to Nooyi and be responsible for Frito-Lay North America, Quaker Foods & Snacks North America, PepsiCo Mexico, South America Foods, PepsiCo customer teams and all Power of One activities within the Americas.
Cornell has more than 30 years of experience in consumer products marketing and general management. Most recently, he was president and CEO of Sam's Club, a highly successful division of Wal-Mart Stores, Inc., where he introduced expanded product offerings and renovated stores throughout the United States. Sam's Club delivered outstanding business results during Cornell's three-year tenure as CEO. Prior to Sam's Club, he held a variety of senior leadership positions. He was CEO and led a turnaround at Michaels, the largest specialty retailer of arts and crafts in North America, and executive vice president and chief marketing officer for Safeway, where he was responsible for the company's marketing, merchandising, manufacturing and distribution operations.
Previously, Cornell held general management positions at PepsiCo, including president of Tropicana, president of PepsiCo beverages for Europe and Africa, and president of PepsiCo North America Foodservice.
As President, Compton will continue to report to Nooyi and assume responsibility for all of PepsiCo's existing global category groups (Global Beverages, Global Snacks and Global Nutrition), Global Operations (IT, Global Procurement, Supply Chain and Productivity), Global Marketing Services and Corporate Strategy.
Working with the regional sectors, Compton will be responsible for driving breakthrough innovation, and brand building while looking for ways to significantly reduce the overall cost structure of the company.
"This executive position will serve as a key driver for our long-term growth strategy," said Nooyi. "A 28-year PepsiCo veteran, John brings a unique insight to this critical role. I have absolute confidence in John's ability to work productively with the sector CEOs to bring about a step-change for PepsiCo's growth and profitability."
n the new structure, while the regions retain ownership of the P&L, PepsiCo's global groups will work across the regions to fully leverage the power and scale of the company. Consistent with this shift, PepsiCo announced the following leadership changes, effective immediately:
- Former PepsiCo executive Brian Cornell has rejoined the company as Chief Executive Officer (CEO), PepsiCo Americas Foods. Cornell most recently was President and CEO, Sam's Club, a division of Wal-Mart Stores, Inc.
- Current PepsiCo Americas Foods CEO John Compton has been named to a new position —President, PepsiCo.
"Today marks an important and essential step in PepsiCo's journey to continue to deliver sustainable growth," said PepsiCo Chairman and CEO Indra K. Nooyi. "John and Brian are superb executives and will both contribute enormously in their new roles to ensure that we compete effectively and efficiently in the global marketplace."
As CEO, PepsiCo Americas Foods, Cornell will report to Nooyi and be responsible for Frito-Lay North America, Quaker Foods & Snacks North America, PepsiCo Mexico, South America Foods, PepsiCo customer teams and all Power of One activities within the Americas.
Cornell has more than 30 years of experience in consumer products marketing and general management. Most recently, he was president and CEO of Sam's Club, a highly successful division of Wal-Mart Stores, Inc., where he introduced expanded product offerings and renovated stores throughout the United States. Sam's Club delivered outstanding business results during Cornell's three-year tenure as CEO. Prior to Sam's Club, he held a variety of senior leadership positions. He was CEO and led a turnaround at Michaels, the largest specialty retailer of arts and crafts in North America, and executive vice president and chief marketing officer for Safeway, where he was responsible for the company's marketing, merchandising, manufacturing and distribution operations.
Previously, Cornell held general management positions at PepsiCo, including president of Tropicana, president of PepsiCo beverages for Europe and Africa, and president of PepsiCo North America Foodservice.
As President, Compton will continue to report to Nooyi and assume responsibility for all of PepsiCo's existing global category groups (Global Beverages, Global Snacks and Global Nutrition), Global Operations (IT, Global Procurement, Supply Chain and Productivity), Global Marketing Services and Corporate Strategy.
Working with the regional sectors, Compton will be responsible for driving breakthrough innovation, and brand building while looking for ways to significantly reduce the overall cost structure of the company.
"This executive position will serve as a key driver for our long-term growth strategy," said Nooyi. "A 28-year PepsiCo veteran, John brings a unique insight to this critical role. I have absolute confidence in John's ability to work productively with the sector CEOs to bring about a step-change for PepsiCo's growth and profitability."