PepsiCo names North American CEO

PepsiCo Inc. on Friday said effective immediately, John Compton will take on the newly created role of chief executive officer for North American operations, as the soft drink maker moves to boost coordination among its divisions.

Compton, 45, a PepsiCo veteran with 23 years experience in snacks, beverages and foods, has been President and CEO of the Quaker Tropicana Gatorade division since 2005. Previously, he served in a variety of roles at Frito-Lay where he ultimately became the division’s vice chairman and president.

Chuck Maniscalco, current president of PepsiCo’s Gatorade and Propel operations, will succeed Compton as president and CEO of Quaker Tropicana Gatorade.

The move comes as Indra Nooyi prepares to take over as president and CEO of PepsiCo on Oct. 1, after Steve Reinemund retires. PepsiCo’s worldwide operations will now be organized into two entities reporting to Nooyi the new North American division, and the existing PepsiCo International division, which was formed in 2003 and is led by Mike White.

Nooyi said in a statement the moves would help balance leadership in the North America segment and its individual businesses.

“Managing these divisions together in a more holistic and integrated manner, like we’ve been doing at PepsiCo International for several years, has proven to be the right formula for growth,” said Nooyi. “Since the PI division was created, its businesses are developing successfully and the entire international portfolio has delivered consistently outstanding performance, marked by 13 consecutive quarters of double-digit revenue and profit growth. We are confident the new North American structure will enhance effectiveness and drive added momentum there as well.”