PepsiCo lining up potential successors to Nooyi

[March 12, 2012]  PURCHASE, N.Y. (AP) -- PepsiCo may be lining up a potential successor to CEO Indra Nooyi, bringing back a former executive to head its biggest moneymaking unit and also naming an insider as its president.

Brian Cornell, who was president and CEO of Wal-Mart Stores Inc.'s Sam's Club division, on Monday was named CEO at PepsiCo Americas Foods.

Meanwhile, John Compton, Pepsi's current CEO for Americas Foods, becomes president.

The company has struggled to match its rival, The Coca-Cola Co., and last month said it would cut 8,700 jobs, about 3 percent of its work force.

PepsiCo Inc. reported a strong fourth-quarter profit, but said it expects profit to fall this year.

[Associated Press]

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