PepsiCo Restructures Leadership
Brings company's three North American businesses under single leader
PURCHASE, N.Y. -- Tom Greco, CEO of Frito-Lay North America (FLNA), is leaving PepsiCo Inc. amid a series of senior executive changes that will expand the responsibilities of key leaders and support the company's ongoing strategies for growth, it said.
The company announced the following promotions:
- Al Carey, CEO of North America Beverages (NAB), has been promoted to CEO for North America. In his new role, Carey will oversee NAB, FLNA and Quaker Foods North America (QFNA).
Bringing the company's three North American 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.
Carey will continue to report to PepsiCo chairman and CEO Indra Nooyi.
- Kirk Tanner, COO of NAB and president of global foodservice, has been promoted to president and COO of NAB.
A 24-year veteran of PepsiCo with strong leadership experience across snacks, beverages and foodservice, Tanner will now lead all aspects of PepsiCo's beverage business in North America, reporting to Carey.
- Vivek Sankaran, COO of FLNA, has been promoted to president and COO of FLNA.
Since joining PepsiCo from McKinsey in 2009, Sankaran has held senior leadership positions spanning snacks, Power of One customers and corporate strategy.
He will now lead all aspects of PepsiCo's Frito-Lay snacks business in North America, reporting to Carey.
"Tom has been a strong and valued leader inside PepsiCo for more than three decades, and has made lasting contributions to our business. He is leaving PepsiCo to pursue his long-standing career goal of being CEO of a company outside our industry. He leaves FLNA in great shape. We thank him for his service and wish him nothing but the best as he begins a new chapter in his career," said Nooyi.
"Al, Kirk and Vivek are three seasoned and successful leaders who are ready to take on increased responsibility," she added. "They have each played an important part in our recent success and bring unique strengths to their new roles. I have every confidence that they will build on our progress and continue to propel our business forward."
Carey is a 35-year veteran of PepsiCo. As CEO of NAB, he continued the transformation of the company's beverage portfolio. His vast PepsiCo experience makes him uniquely qualified to assume his new role as CEO of PepsiCo North America. He has held various senior roles across snacks, beverages and foodservice during his career, including CEO of FLNA, COO of PepsiCo Beverages and Foods North America, senior vice president of sales for Pepsi-Cola North America, COO of FLNA, president of FLNA's West business unit and general manager of FLNA Foodservice.
As COO of NAB and president of Global Foodservice, Tanner expanded partnerships and drove growth across PepsiCo's retail and foodservice customer base. He has worked in 11 domestic and international locations during his PepsiCo career and held numerous leadership roles across sales, operations, customer marketing, distribution and channel development.
Since joining PepsiCo seven years ago, Sankaran has held several senior leadership positions, including chief commercial officer for PepsiCo North America, chief customer officer for FLNA, senior vice president and general manager of FLNA's South business unit, and senior vice president of corporate strategy and development.
"PepsiCo's deep bench of world-class leaders and our top-notch talent development capabilities allow us to elevate our next generation of talent into bigger roles," Nooyi said.
Purchase, N.Y.-based PepsiCo generated more than $63 billion in net revenue in 2015, driven by a complementary food and beverage portfolio that includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. Its product portfolio includes a wide range of foods, snacks and beverages, including 22 brands that generate more than $1 billion each in estimated annual retail sales.