PepsiCo's Food and Beverage Leaders Joining Forces
PURCHASE, N.Y. -- PepsiCo Inc. believes food and beverages are always consumed together, so the company announced the formation of two new groups, the Power of One — Americas Council and the Global Snacks Group, in an effort to unlock opportunities and innovations to propel it forward. Both groups will be led by John Compton, CEO of PepsiCo Americas Foods.
The Power of One group brings together PepsiCo's top food and beverage leaders to leverage the combined scale of the company's complementary snack and beverages business across North, South and Central America.
"The combination of our snack and beverage portfolios creates significant value for our shareholders through synergies driven by a common base and distribution platform, supplier leverage and shared information," PepsiCo Chairman and CEO Indra Nooyi said in a statement. "The value of the combined portfolio has been greatest in our international markets, which share many activities; and we are now well positioned to realize further benefits in North America following the successful integration of our bottling business."
Joining Compton on the Power of One group is Al Carey, CEO, PepsiCo Americas Beverages; Tom Greco, president, Frito-Lay North America; Pedro Padierna, president, PepsiCo Mexico; Olivier Weber, president, PepsiCo South America Foods and Central America and Caribbean; Marc Guay, president, PepsiCo Foods Canada; Massimo d'Amore, president, Global Beverages Group; and Luis Montoya, president, Latin America Beverages.
Power of One will "leverage the capabilities of the entire enterprise," Nooyi said. "[It] will help us to better coordinate our manufacturing, sales and distribution facilities and align our retail and consumer brand promotions across our portfolio, which will result in greater operating efficiency, speed-to-market and value."
According to a PepsiCo news release, the Global Snacks Group will focus on developing a coordinated approach to the company's global brand portfolio by creating and delivering breakthrough snacks innovation.
Compton said he believes the implementation of both initiatives will "help us extend our advantage around the world."