Those two positions are effectively being combined into one, to be held by Albert Carey, a 30-year PepsiCo. veteran who most recently ran its Frito-Lay North America unit. The change is effective immediately.
“We believe this change was necessary and view it favorably,” Credit Suisse analyst Carlos Laboy wrote in a research note.
The departure of Foss — former chief executive of Pepsi Bottling Group, which PepsiCo. acquired last year — was expected following the integration of the bottler.
Foss, 53, plans to take a senior leadership role at a public company, PepsiCo. said.
A spokesman could not provide further details.
Carey will oversee all of PepsiCo’s North American and Latin American beverage businesses. D’Amore has run the businesses since November 2007.
D’Amore will retain responsibility for Gatorade and Tropicana in North America, the Latin American drink business, and the “global beverages group,” which focuses on innovation, research and development and global brand management.
D’Amore will report to Carey, who will report to PepsiCo. Chief Executive Indra Nooyi.
Tom Greco will succeed Carey as head of Frito-Lay North America.
