(Reuters) - PepsiCo Inc PEP.N promoted the head of its North America beverages business to chief executive for the region and said the head of its Frito-Lay snacks business there was leaving the company.
Al Carey, a 35-year veteran of PepsiCo, will become the North America CEO and oversee the company’s beverages, Frito-Lay and Quaker Foods divisions in the region, the company’s biggest market by sales.
PepsiCo said Tom Greco, who has led Frito-Lay North America since 2011 and joined PepsiCo in 1986, is leaving to pursue his goal of becoming a CEO of a company outside the food and beverage industry.
Frito-Lay is the company’s most profitable business, with the Frito-Lay North America division accounting for about 24 percent of the company’s total revenue at the end of its fourth quarter.
Pepsi also said it appointed Kirk Tanner, the president of its global foodservice unit, as chief operating officer to its North America beverages unit, and promoted Vivek Sankaran to president and COO of Frito-Lay North America.
Both Tanner and Sankaran will report to Carey.
Up to Wednesday’s close, PepsiCo’s shares had risen about 7 percent over the past 12 months.
Reporting by Ramkumar Iyer in Bengaluru; Editing by Maju Samuel