PURCHASE, N.Y. (AP) — PepsiCo Inc.'s North American beverage chief, who joined the company last year when it bought its two biggest bottlers, will step down late this year, the soft drink company said Wednesday.
Eric Foss will be replaced by Al Carey, a 30-year PepsiCo veteran who now runs the Frito-Lay North America snacks unit. Carey, 60, will be replaced at the snacks unit by another Pepsi executive, Tom Greco, 53. Greco is currently the chief commercial officer for Pepsi Beverages.
The changes come as PepsiCo tries to jumpstart growth in its home market, which has been sluggish. CEO Indra Nooyi said in July that the North American beverage industry, and not just PepsiCo, needed "a very different mindset and approach" to continue to lure customers. The Americas beverage unit's revenue rose 1 percent in the quarter and its operating profit rose 3 percent.
Foss was CEO of Pepsi Bottling Group Inc. in February 2010 when PepsiCo bought the company and another bottler, PepsiAmericas Inc. Foss stayed on at PepsiCo, based in Purchase, N.Y., as head of the Americas beverage unit.
Foss, 53, is resigning his position immediately but will stay at the company through Dec. 9 to help the new management team. After that, he intends to hold an executive position at a public company, PepsiCo said.
The company said in a statement that Foss had provided "steady leadership" during the transition and delivered "substantial" efficiencies and cost savings.
"We are grateful to Eric for his willingness to stay with us for nearly two years to ensure a successful integration, and we are now well positioned for the future," Nooyi said in a statement.
