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News Editor
Following on the heels of its S-4 filing last week, PepsiCo announced Monday it plans to name Eric Foss to head up the company's bottling business once it completes its acquisition of Pepsi Bottling Group and PepsiAmericas [PAS
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AP Although Eric Foss's new role at PepsiCo will be essential to the integration of the bottling companies, he will have a diminished role than he once had as CEO of publicly traded company. |
Foss, who currently is the chief executive of Pepsi Bottling Group [PBG
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], was seen as the frontrunner for the job.
This role will be crucial as the beverage company shifts its model and does the heavy lifting of integrating three separate companies.
"We can think of no executive better positioned for this role than Eric Foss, who has demonstrated his strong leadership and execution skills while running PBG," said Bill Pecoriello, of ConsumerEdge Research. "In addition, PepsiCo now adds an experienced beverage leader to its bench."
Pepsi's [PEP
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] management recently lost a veteran leader at the company when Michael White, the head of its international business, announced plans to retire at year end. White played a key role in the negotiations for the company's $7.8 billion acquisition of the two bottlers, and some company watchers were concerned to see him step down ahead of integration of that deal.
In his new role, Foss will be reporting directly to PepsiCo Chairman and CEO Indra Nooyi, and he will also serve on a special advisory board that will be established to oversee the integration of the bottling businesses.
Although his new role will be essential to the integration of the companies, it will be a slightly diminished one from what he is used to as CEO of a publicly traded company.
Foss served as CEO of Pepsi Bottling since July 2006, and was named the company's chairman in 2008.
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