RUSSIA: PepsiCo eliminates Wimm-Bill-Dann board
PepsiCo struck a deal to buy a 66% stake in WBD for US$3.8bn in December last year
PepsiCo has fully terminated the powers of Wimm-Bill-Dann's (WBD) board of directors.
PepsiCo, which completed a tender offer to buy all outstanding WBD shares in May this year, said that the powers of the Russian dairy firm's board of directors have now been repealed. "Since WBD has only one shareholder now (PepsiCo), there is no need for a board," a spokesperson told just-drinks today (25 October).
PepsiCo struck a deal to buy a 66% stake in WBD for US$3.8bn in December last year, making it the largest food-and-beverage business in Russia. In March, PepsiCo purchased 23.02% of outstanding shares from minority shareholders and, in September, scooped up the remaining 1.37% at RUB3,883.7 (US$129) per share.
Click play, below, to view the thoughts of PepsiCo's CEO, Indra Nooyi, on the company's structural changes announced earlier today (12 March)....
PepsiCo has lined up the latest television advert for its Mountain Dew CSD in the US....
- Remy, dead cats and the power of China's new year
- Focus - Remy Cointreau's YTD Performance by Brand
- Will Lucas Bols' IPO Bring Much Needed Stability?
- Price drops would damage our DNA - Remy Cointreau
- A Dangerous World and the Threat to Beverages
- Moët Hennessy unveils first Travel Retail outlet
- Pernod unveils Jameson bottle for St Patrick's Day
- Maxxium UK head to depart for Edrington role
- Remy eases declines as China hints at recovery
- SABMiller beer volumes fall as China holds back Q3
- Global RTD/RTS insights - market forecasts, product innovation and consumer trends research
- Global vodka insights - market forecasts, product innovation and consumer trends research
- Diageo plc (DGE) - Financial and Strategic SWOT Analysis Review
- Edrington Group in Spirits (World)
- just-drinks on-trend: Craft beer - fortunes and future