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Pepsi Names CEO Nooyi As Chairman

PepsiCo said Chief Executive Officer Indra K. Nooyi has been named chairwoman of the board, effective May 2.

Nooyi, 51, will replace Steven S. Reinemund, 58, who is retiring.

Nooyi has been chief executive since October. She began at Pepsi in 1994.

The Purchase, N.Y., maker of Pepsi and Gatorade soft drinks and Frito-Lay snacks will report its fourth-quarter results on Thursday.