PepsiCo International boss retires
Michael White, Vice Chairman and PepsiCo International CEO, will retire from the beverage and snacks maker later this year after nearly two decades with the company.”Close to a year ago, Mike shared with me his interest in eventually moving on to ‘the next chapter’ of his life,” Indra Nooyi, PepsiCo Chairman and CEO, advised. “Since then we have been working together to ensure a smooth and orderly transition. Our current international structure reflects that planning, so we’re well prepared for this change.”
Since joining PepsiCo in 1990 as VP of planning for Frito-Lay North America, White has held many senior positions, including CFO of Frito-Lay North America, EVP and CFO of Frito-Lay International, and CFO of PepsiCo. During that time he has helped engineer numerous acquisitions, including the pending agreements to acquire the company’s two largest bottlers, the Pepsi Bottling Group and PepsiAmericas, the company noted.
“It would be difficult to overstate Mike’s contribution to PepsiCo over two decades,” Ms Nooyi said. “Among many achievements, he has led a dramatic transformation of our international business, helping to grow total sales outside North America to close to $20 billion, from less than $8 billion in 2003.”
Given the importance of PepsiCo International to the corporation’s growth plans, its component businesses will continue to be managed by two of the company’s most experienced leaders, the firm said. Zein Abdalla will become Chief Executive Officer of PepsiCo Europe and Saad Abdul-Latif will take over as CEO of PepsiCo Asia, Middle East, Africa.
