PURCHASE, NY -- PepsiCo Inc. announced several executive changes, including a new head for its U.S. beverages unit, in a bid to revive sales, which have lagged behind Coca-Cola Co in North America.
Albert Carey, 60, who most recently led Frito-Lay North America, will become chief executive of PepsiCo Americas Beverages, effective immediately.
Carey, a 30-year company veteran, succeeds Eric Foss and Massimo d'Amore, who co-ran the Americas beverage business. He has served as Frito-Lay chief executive since 2006. Previously, he was president of PepsiCo Sales, where he led sales for the company's retail, foodservice and fountain businesses.
Foss, former chief executive of Pepsi Bottling Group, which PepsiCo acquired last year, will leave PepsiCo in December. The beverage and snack giant appointed Foss to oversee the integration of PBG and Pepsi Americas, its two largest North American bottling operations, into PepsiCo. His eventual departure was expected following the integration.
D'Amore, 56, who headed marketing for PepsiCo's America's Beverage unit, will retain responsibility for the North American Gatorade, Tropicana and Latin American beverage businesses, but will no longer be responsible for carbonated drinks in the U.S. He will also continue to lead the company's "global beverages group," which focuses on long-term innovation.
Succeeding Carey is Tom Greco, 53, who will assume the role of president of Frito-Lay North America. He most recently served as executive vice-president and chief commercial officer for Pepsi Beverages Co. He has also held a variety of senior positions within Frito-Lay, including president of Frito-Lay Canada.
The executive shuffle comes as flagship Pepsi-Cola slipped to No. 3 in U.S. volume behind Diet Coke and longtime leader Coke last year for the first time. In its latest quarter, Pepsi's beverage sales volume declined by 1% from a year ago in North America. | SEE STORY
The company has been aggressively pushing to regain its market share by investing in new advertising campaigns, and in June it announced a shakeup of its marketing team.