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PepsiCo C.E.O. Departs; Senior Executives Reassigned

PURCHASE, N.Y. -- PepsiCo said yesterday that in the wake of the departure of its chairman and c.e.o., Gary M. Rodkin, to pursue new career opportunities, the company has reassigned two of its highest-ranking executives to lead its North American beverage and food operations, effective immediately and reporting directly to current chairman and c.e.o. Steve Reinemund.

Dawn Hudson, president and c.e.o. of Pepsi-Cola North America, based in Purchase, will continue to oversee the development, marketing, and selling of all beverages distributed through Pepsi's bottler network. She will lead PCNA's performance across all channels in the United States and Canada, and will also assume total responsibility for aligning all of PepsiCo's bottler partnerships to drive even greater growth. Hudson has been at PepsiCo since 1997.

John C. Compton, has been appointed president and c.e.o. of Chicago-based QTG, consisting of the Quaker Foods and Tropicana/Gatorade divisions in the United States and Canada. Compton, a 22-year PepsiCo veteran, was previously vice chairman of Frito-Lay North America (FLNA) and president of salty snacks. Compton's former accountabilities at FLNA will be assumed directly by Irene Rosenfeld, chairman and c.e.o. of the division.

"The new assignments for these highly talented, versatile executives reflect both their outstanding skills and achievements, and our commitment to make PepsiCo the world leader in convenient foods and beverages,” said Reinemund in a statement.

Reinemund added: "To maintain focus on our 'liquid refreshment beverage' strategy as we move into this organization, we have formed a new corporate oversight council comprising myself and our president and c.f.o., Indra K. Nooyi. In collaboration with Dawn Hudson and John Compton, we will make decisions regarding strategic direction, and resource and asset allocation in the critical areas of research and development, capital investment, and competitive response."

Rodkin had served as chairman and c.e.o. at PepsiCo Beverages and Foods North America (PBF) since 2002. The division was formed after PepsiCo’s merger with the Quaker Oats Co. by combining all the North American beverage businesses with the Quaker foods business.

Rodkin joined PepsiCo when the company acquired Tropicana in 1998, heading the juice unit and then running Pepsi-Cola North America before moving to his PBF position. He will remain with PepsiCo through June to ensure a smooth transition.

Nooyi, along with Michael D. White, chairman and c.e.o. of PepsiCo International; Rosenfeld; Hudson; and Compton, now serve as PepsiCo's five business heads, reporting to Reinemund.

PepsiCo's principal businesses include Frito-Lay snacks, Pepsi-Cola beverages, Gatorade sports drinks, Tropicana juices and Quaker foods.
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