Chief of PepsiCo to Get Chairmanís Post

Chief of PepsiCo to Get Chairmanís Post

Chief of PepsiCo to Get Chairmanís Post

PepsiCo said that its board had elected its chief executive, Indra K. Nooyi, to succeed Steven S. Reinemund as chairman when he retires in May.

Ms. Nooyi, 51, joined PepsiCo, based in Purchase, N.Y., in 1994 and led its global strategy for more than a decade. She told analysts in October she planned to increase budgets for products like Tava calorie-burning drinks and to spend $500 million a year on acquisitions like the Stacyís Pita Chip Company.

Mr. Reinemund, 58, announced his departure in August. Ms. Nooyi will retain the chief executive post.

Ms. Nooyi served as chief financial officer before being named chief executive in October. She oversaw the acquisitions of Quaker Oats and Tropicana and the spin off of Yum Brands restaurants, including KFC and Taco Bell.

Shares of PepsiCo fell 21 cents, to $64.83, on the New York Stock Exchange.

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