PepsiCo International vice chairman, CEO to retire

PURCHASE, N.Y. A 20-year veteran of PepsiCo has announced he will retire from his post of vice chairman and CEO later this year.

Michael D. White said he will continue leading the work of planning the integration into PepsiCo of the Pepsi Bottling Group and PepsiAmericas over the coming months. He also will retain responsibility for the corporate functions of procurement and information technology, as well as for the global concentrate operations function.

In keeping with the company's past practice, White will step down from his seat on the PepsiCo board of directors upon his retirement. He has served on the board since 2006.

"It would be difficult to overstate Mike's contribution to PepsiCo over two decades," said Indra Nooyi, PepsiCo chairman and CEO. "Among many achievements, he has led a dramatic transformation of our international business, helping to grow total sales outside North America to close to $20 billion, from less than $8 billion in 2003. His single greatest legacy, however, may be the strong, self-sufficient teams he has established around the world. Thanks largely to Mike, they are well-equipped to carry on his tremendous record of growth."

Since joining PepsiCo in 1990 as VP planning for Frito-Lay North America, White has held many senior positions, including CFO of Frito-Lay North America, EVP and CFO of Frito-Lay International, CFO of Pepsi-Cola Company worldwide and CFO of PepsiCo. During that time he has helped engineer numerous acquisitions, including the pending agreements to acquire the company's two largest bottlers, the Pepsi Bottling Group and PepsiAmericas. He has also played a very active role in developing the company's most promising leaders.