Some members of PepsiCo's board frustrated over lack of plan to succeed CEO, according to source; pressure to remove head of company 'will be hard to ignore' if stock doesn't improve, others say
November 8, 2011
– According to an article in the New York Post, a source said that some members of PepsiCo Inc.’s board are frustrated over the lack of a plan to succeed CEO Indra Nooyi and may address the issue over the next six months, Bloomberg reported Nov. 8.
According to the article, a source said that if PepsiCo’s stock doesn’t improve, the pressure to remove Nooyi “will be hard to ignore.” Other sources say that Nooyi’s initiatives as CEO haven’t led to big results.
According to the article, some board members are also frustrated that Nooyi’s only potential successor, Eric Foss — the head of the company’s bottling business — will leave next month. Tamara Coxall, a U.K.-based spokeswoman for PepsiCo, couldn’t be immediately reached for comment.
The primary source of this article is Bloomberg, New York, New York, on Nov. 8, 2011.