PepsiCo North America Beverages chief Carey to take group reins in NA everything
Steve’s breakdown: There are so many accounts that could be effected by this move especially in regards with Frito-Lay and Quaker Foods. Worth the time to check into your connections at those companies.
PURCHASE, NY: PepsiCo has promoted the CEO of its North America Beverages unit to head up its total North America operations, prompting one analyst to suggest that he could be in line to take over as group CEO.
In the newly-created role, Al Carey will oversee not only NAB, but also Frito-Lay North America (FLNA) and Quaker Foods North America. The move follows the departure of Tom Greco, former CEO of FLNA, who has left to assume the same position at an undisclosed company.
“Bringing the company’s three North America businesses under a single leader will enable PepsiCo to further leverage its complementary brand portfolio across snacks, beverages and nutrition to unlock new growth opportunities,” the company said late yesterday.
Carey is a 35-year veteran of PepsiCo. He will report directly to CEO Indra Nooyi, while an analyst has speculated that he may be next in line for the top job. In a note following the announcement, Wells Fargo analyst Bonnie Herzog said that, should Nooyi decide to step down soon, “Al Carey would be next in-line for the top spot”.
“We think Carey would be a very capable CEO of PepsiCo, given his extensive experience at the company,” she said.
Meanwhile, Kirk Tanner has added the NAB presidency to his role as COO of the unit. Tanner, who had also been president of global foodservice for the company, will report in to Carey.
Earlier this month, PepsiCo reported that Nooyi received a 17.6% pay increase in 2015.