US: PepsiCo cuts board to 14 as ex-CEO leaves
This will mean a reduction in the size of Pepsi's board to 14, in keeping with corporate governance policies Pepsi has adopted.
Pepsi said Enrico, its former chairman and chief executive officer, would not seek re-election to the board when his term expires in May. Morrison, meanwhile, will retire from the management at the beginning of February. He had been board vice chairman and head of PepsiCo Beverages and Foods North America.
At the same time the company announced that James Schiro, the chief executive of Zurich Financial Services was joining as an independent board director.
Before joining Switzerland's Zurich Financial in 2002, Schiro was chief executive of PricewaterhouseCoopers.
The changes will reduce PepsiCo's board to 14 directors. The company's board will be comprised of 12 independent, outside directors and two inside directors, CEO Steven Reinemund and Chief Financial Officer Indra Nooyi.
In the battle of the giants, PepsiCo has stolen a march on Coca-Cola over the last year or so and its performance in the first half of the current fiscal year suggests it is still has the upper hand. ...
A recent report on the UK soft drinks market showed that growth in non-carbonates at the expense of traditional carbonated soft drinks is much less marked in the on-premise sector than in the take-hom...
A departing PepsiCo executive is to be handed a US$4.56m package spread over the next two years for his consultancy services....
The Pepsi Bottling Group has signed a letter of intent to acquire Pepsi-Cola Bottling Company of Charlotte (Pepsi Charlotte) for an undisclosed sum....
The Pepsi Bottling Group today reported second quarter net income of US$148m, or diluted earnings per share (EPS) of $0.59. The results were up on the same period last year as the company grew volumes...
Pepsi-Co. has been removed from a Syrian blacklist of companies which have dealings with Israel, according to a report in the official Syrian newspaper al-Thawra....
Pepsi has launched a new 50cl silver-coloured bottle for its Pepsi light soft drink as part of a major advertising campaign to roll out this summer in Spain....
PepsiCo's president and CFO, Indra Nooyi, has been forced to apologise for remarks she made whilst speaking to the 2005 graduating class of Columbia University's Business School in New York City last ...
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