The Pepsi Bottling Group, Inc. (NYSE: PBG) today announced three key executive elections, which are effective immediately:

John T. Cahill has been elected to the position of President and Chief Operating Officer, promoted from Executive Vice President and Chief Financial Officer of PBG;

Eric J. Foss has been elected Executive Vice President and General Manager, PBG North America, promoted from Senior Vice President, U.S. Sales and Field Operations; and

Lionel L. Nowell III will join PBG as Executive Vice President and Chief Financial Officer. Mr. Nowell most recently served as Senior Vice President and Controller for PepsiCo, Inc.

In making the announcement, PBG Chairman and CEO Craig E. Weatherup said, "Now that we have successfully completed our first full year as an independent company, we're pleased to move to the next phase of our development by bringing even greater leadership, resources and focus to our business. In promoting John Cahill, we are able to leverage the comprehensive financial and operational skills of an excellent executive. He has done an exceptional job leading our international operations and, as one of the chief architects of PBG, John's many and varied contributions have led to much of the success we are enjoying today.

"Our U.S. business has been thriving as well, thanks in large part to the leadership talents of Eric Foss. He has driven executional excellence and created a passion for winning in the marketplace. As he assumes responsibility for Canada, I look forward to better leveraging our North American synergies and continuing the progress the Canadian team has made over the past eighteen months.

"Finally, I am very pleased with the addition of Lionel Nowell to the PBG executive team. The creation of a separate Chief Financial Officer position requires an individual with broad business acumen as well as financial expertise. Lionel has demonstrated terrific impact at PepsiCo, and he is ideally suited to providing PBG with strategic fiscal direction as John, Eric and I explore ways to continue growing our topline profitably."

As President and Chief Operating Officer of PBG, Mr. Cahill, 43, will be responsible for the company's worldwide operations, as well as retaining his seat on the PBG Board of Directors. Prior to his Pepsi career, Mr. Cahill served as Chief Financial Officer for RKO Pictures. In 1989, he joined PepsiCo, Inc. as Vice President, Corporate Finance and Assistant Treasurer. He progressed through a series of assignments of increasing responsibilities in various PepsiCo companies and was named Executive Vice President and Chief Financial Officer for the Pepsi-Cola Company, a division of PepsiCo, in 1998. He was appointed to his most recent assignment of PBG's Executive Vice President and Chief Financial Officer in 1999. Mr. Cahill earned an M.B.A. from Harvard Graduate School of Business Administration and an A.B. in economics from Harvard University.

In his new assignment, Eric Foss, 42, will oversee all PBG North American operations. In 1982, Mr. Foss joined the Pepsi-Cola Company in the sales and marketing division. Following numerous field and headquarters assignments, Mr. Foss was named Vice President, Retail Strategy for Pepsi-Cola North America (PCNA) in 1990. Four years later, he returned to the field as General Manager of PCNA's Great West Business Unit. In 1996, he was appointed General Manager of Pepsi-Cola International's Central Europe Region and returned to the U.S. in 1999, when he was named to his most recent position of Senior Vice President, U.S. Sales and Field Operations for PBG. Mr. Foss earned a Bachelor of Science degree in marketing from Ball State University.

Lionel Nowell, 45, joins PBG from PepsiCo, where he has served as Senior Vice President and Controller since 1999. Prior to joining PepsiCo, Mr. Nowell held senior finance, control and strategy positions at several major consumer products companies. At RJR Nabisco, he served as Senior Vice President, Strategy and Business Development. From 1991 to 1998, Mr. Nowell held a variety of senior financial roles at the Pillsbury division of Diageo PLC, including Chief Financial Officer of its Pillsbury North America, Pillsbury Foodservice and Haagen Dazs units. Before his tenure at Pillsbury, he spent eight years as a finance and control executive at Pizza Hut, then a division of PepsiCo. Mr. Nowell earned a Bachelor of Business Administration degree from Ohio State University and is a Certified Public Accountant.

The Pepsi Bottling Group, Inc. is the world's largest seller, manufacturer and distributor of Pepsi-Cola beverages with operations in the U.S., Canada, Greece, Spain and Russia.