A departing PepsiCo executive is to be handed a US$4.56m package spread over the next two years for his consultancy services.

Gary Rodkin, previously chief executive of Pepsi's North American beverages and food business, will receive $190,000 a month for two years.

As part of the deal, Rodkin, who resigned in March, will not be able to disclose confidential information on the company nor compete against Pepsi over the next two years.

The UK's Financial Times quoted Pepsi saying that the payments were appropriate, given Rodkin's extensive knowledge of its business.