SOMERS, N.Y. -- The Pepsi Bottling Group Inc. said its board has elected Eric J. Foss as president and CEO of the company effective immediately. Foss, 48, who most recently served as PBG's COO, was also elected to the company's board.
Foss succeeds John T. Cahill, 49, who has been PBG's CEO since 2001. Cahill will remain as PBG's executive chairman and a member of the board through early 2007. Upon Cahill's departure early next year, the board has designated Barry H. Beracha, 64, currently one of PBG's independent directors, to assume the role of nonexecutive [image-nocss] chairman. Beracha was elected to PBG's board in March 1999.
Cahill's accomplishments include building PBG into the leading bottler in the Pepsi network, gaining market share in a number of key regions, achieving double-digit growth in international territories, improving selling and execution across the organization, increasing PBG's cash flow and dividend and executing a number of successful acquisitions.
Foss has garnered extensive experience in both the United States and overseas during his 24 years in the Pepsi system. During his tenure with PBG, he has led multiple initiatives designed to enhance PBG's customer relationships, increase the company's selling and execution capabilities and strengthen the organization.
Foss most recently served PBG as its COO, a position to which he was named in September 2005. Prior to that, he served as president of PBG North America. He joined Pepsi-Cola Co. in 1982 and held a variety of increasingly responsible field and headquarters-based sales, marketing and general management positions. In 1990, Foss was named vice president of retail strategy for Pepsi-Cola North America (PCNA). From 1994 to 1996, he served as general manager of PCNA's Great West Business Unit. In 1996, he was named general manager of Pepsi-Cola's Central Europe business. He returned to the United States in February 1999, when he joined PBG as senior vice president of U.S. sales and field marketing. In 2000, Foss was appointed executive vice president and general manager of PBG North America and, a year later, was named president of PBG North America.
PepsiCo Chairman and CEO Steve Reinemund, said, Since its founding in 1998, the Pepsi Bottling Group (PBG) has been and remains one of PepsiCo's most trusted and valued partners. The same sentiment applies to the company's seasoned management team, many of whom devoted extensive time in their careers to PepsiCo before joining PBG.
We are excited to welcome another highly respected leader and friend to the helm at PBG in Eric Foss. Eric is a strong and decisive leader, as demonstrated throughout his PBG tenure and 17 years earlier with PepsiCo. He has been an influential member of PBG's founding management team with Craig Weatherup and John Cahill, and has been involved in all the vital strategic decisions that have built the company into one of the world's best bottling operations. All of us at PepsiCo look forward to continuing to work with Eric and his team as we grow our mutually successful partnership to entirely new heights and firmly establish PBG and PepsiCo as two of the world's best consumer products companies.
On behalf of everyone at PepsiCo, we also extend our gratitude and appreciation to John for his outstanding vision and leadership during the last eight years at PBG. During his tenure at PBG, and more than 10 years with PepsiCo previously, John consistently made his mark on the businesses and the industry, and the people in both, leaving an impressive and lasting legacy that will stand the test of time. He remains a loyal PBG and PepsiCo supporter and a good friend. He will be missed, although we know he will do exceedingly well in all his future endeavors. We wish him, Betsy and their family the very best.Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.