JP Morgan Comments on PepsiCo Senior Management Changes

PepsiCo (NYSE: PEP) announced changes to its senior management early Wednesday, J.P Morgan reports. Al Carey, CEO of Frito-Lay North America, was appointed to run Pepsi Americas Beverages, reporting directly to PepsiCO CEO Indra Nooyi.

The CEO of Pepsi Beverages Company, Eric Foss, will retire from PepsiCo, and Tom Greco, Chief Commercial Officer of PBC, will become the president of FLNA.

"Al Carey, who is viewed very positively, has a solid track record in running FLNA since 2006 and has had multiple roles in PEP's beverage business throughout his 30-year career at PEP," J.P.Morgan wrote in a report.

According to J.PMorgan, PAB is facing "heightened competitive activity, a lackluster consumer environment and high commodity costs."

The financial firm viewed Greco's appointment to run FLNA as a “positive given his experience and reputation as a solid leader.”