PepsiCo CEO Nooyi has backing of company's board, says one of Pepsi's independent directors; internal strategic review likely to result in renewed marketing push for its soft drinks business
January 13, 2012
– One of PepsiCo’s independent directors said that CEO Indra Nooyi has the backing of the board, The Wall Street Journal reported Jan. 13.
Pepsi is currently in the midst of an internal strategic review, the results of which the company will announce in February. Independent director James Schiro said the board supports Nooyi and the management team, and that the strategic review is more likely to result in a renewed marketing push for its soft drinks business.
During Nooyi’s five-year tenure as CEO, Pepsi’s soda sales have been down, profits have missed targets and the stock is down 1%. Overall, Pepsi has 19 brands that bring in retail sales of at least US$1 billion.
The primary source of this article is The Wall Street Journal, New York, New York, on Jan. 13, 2012.