The company also confirmed the creation of the Global Snacks Group (GSG), designed to drive breakthrough innovation across its leading portfolio of global snack food brands.
Both initiatives will be led by John Compton, CEO, PepsiCo Americas Foods, who will also retain responsibility for the company’s $22bn snack and food business in America.
The Power of One – Americas Council will ensure full coordination across the food and beverage operating systems, while also unlocking opportunities to create value across the business, from sales, marketing and distribution to back-office operations. The new group will also focus on creating opportunities in complementary food and beverage products in ways that are attractive to retailers and consumers.
PepsiCo chairman and CEO, Indra Nooyi, said: “The combination of our snack and beverage portfolios creates significant value for our shareholders through synergies driven by a common customer base and distribution platform, supplier leverage and shared infrastructure.
“The value of this combined portfolio has been greatest in our international markets, which share many activities; and we are now well positioned to realise further benefits in North America following the successful integration of our bottling business.”
The Global Snacks Group will focus on developing a coordinated approach to the company’s global brand portfolio, creating and delivering breakthrough snacks innovation and promoting best practice-sharing around the world.
This decision to create GSG advances the company’s multi-year strategy to establish global platforms for marketing, branding and innovation. The profit and loss responsibilities remain with the company’s four business units: PepsiCo Americas Foods, PepsiCo Americas Beverages, PepsiCo Europe and PepsiCo Asia, Middle East and Africa.
Source: PepsiCo
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