With investors still antsy about the company’s stagnant stock price, PepsiCo named two new execs to its management team.
Brian Cornell, previously the president and CEO of Sam’s Club, a division of Wal-Mart, has rejoined the company as CEO of PepsiCo Americas Foods. He has previously held a number of management positions across PepsiCo, including president of Tropicana and president of PepsiCo beverages in Europe and Africa. He will be responsible for a number of businesses across PepsiCo, including Frito-Lay North America, Quaker Foods & Snacks North America, and PepsiCo Mexico, reporting to chairman and CEO Indra Nooyi.
And PepsiCo Americas Foods CEO, John Compton, has been named to a new position, president of PepsiCo. He’s now managing PepsiCo’s global groups (such as global nutrition), global operations, and global marketing services and corporate strategy.
The moves are being positioned as a “drive to continued growth.” The Wall Street Journal says it also sets up succession possibilities.