USA: Management Team Announced for the Merger Of Whitman Corporation and PepsiAmericas
Kenneth E. Keiser, currently President and Chief Operating Officer of PepsiAmericas will become President and Chief Operating Officer of the combined company's U.S. operations. Mr. Keiser has 25 years experience in the Pepsi bottling business.
Larry D. Young, currently President and Chief Operating Officer of Whitman Corporation and Pepsi-Cola General Bottlers, will become President and Chief Operating Officer of the combined company's international operations, which include Poland, Hungry, Czech Republic, Republic of Slovakia, Puerto Rico and Jamaica. Mr. Young has more than 30 years experience in the industry.
John F. Bierbaum, currently Senior Vice President and Chief Financial Officer of PepsiAmericas, will become Executive Vice President, Corporate Growth and Strategic Planning for the new company. He will have principal responsibility for acquisitions, as well as for the company's non-bottling related assets.
The Chief Financial Officer for the company will be named at a later date.
"I am pleased to have the talents of Ken, Larry, and John in key positions that blend the strengths and talents of both the PepsiAmericas and Whitman organizations," noted Robert Pohlad, chairman and CEO of PepsiAmericas. "With this important step in place, we can begin the integration planning process and be ready to implement our strategic vision of accelerating growth."
PepsiAmericas manufactures, distributes and markets PepsiCo soft drinks, Seven-Up and other products in exclusive franchise territories that include Puerto Rico, Jamaica, portions of Arkansas, Iowa, Louisiana, Minnesota, Mississippi, North Dakota, South Dakota, Tennessee and Texas. PepsiCo, Inc. (NYSE: PEP - news) holds a 24 percent equity interest in PepsiAmericas.
Pepsi-Cola General Bottlers is Whitman Corporation's (NYSE: WH) principal operating company. Its brands include Pepsi, Diet Pepsi, Pepsi ONE, Mountain Dew, Mug, Slice, Wild Cherry Pepsi, Aquafina, All Sport Body Quencher, and FruitWorks. The company also distributes ready-to-drink ice teas and coffees, respectively, via joint ventures with Lipton and Starbucks.
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