PURCHASE, N.Y. -- PepsiCo said that Albert (Al) P. Carey has been named president and CEO of the company's Frito-Lay North America (FLNA) division. The appointment follows the departure of Irene B. Rosenfeld, whoas reported yesterday in CSP Daily Newswas just named CEO of Kraft Foods Inc.
Carey will lead the $10 billion snack and convenient foods business effective immediately, reporting to PepsiCo Chairman and CEO Steve Reinemund. Frito-Lay is PepsiCo's most profitable operating division and the company's largest North American business.
A highly experienced, 25-year veteran of PepsiCo with nearly 20 years at FLNA, Cary, 54, most recently served as the president of PepsiCo Sales, the corporation's chief customer officer. In this role, he was the architect of PepsiCo's Power of One cross-divisional strategy, leveraging the combined strengths and capabilities of all its businesses under a unified approach to customers.
The Purchase, N.Y.-based company said Carey's replacement as president of PepsiCo sales would be named soon.
Al Carey is recognized industry-wide for his command not only of PepsiCo's businesses and our strong go-to-market capabilities, but for his passionate commitment to our customers and the consumers they serve, and the thousands of associates who bring PepsiCo to them every day, said Steve Reinemund.
In addition to this most recent assignment, Carey has been well tested in a number of key jobs during nearly three decades with the company. Previous roles include a variety of positions at Frito-Lay, where he rose to become COO; COO for PepsiCo Beverages & Foods; senior vice president of sales & retailer strategies for PepsiCo; and senior vice president of sales for Pepsi-Cola North America.
Carey instituted and continues to champion PepsiCo's largest recognition program, called the Ring of Honor, which salutes the company's top frontline salespeople around the world during an annual special awards ceremony at PepsiCo's global headquarters in New York.
PepsiCo is one of the world's largest food and beverage companies, with 2005 annual revenues of more than $32 billion. Its principal businesses include Frito-Lay snacks, Pepsi-Cola beverages, Gatorade sports drinks, Tropicana juices and Quaker Foods. Its portfolio includes 17 brands that generate $1 billion or more each in annual retail sales.
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