Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

PepsiCo Board Frustrated Over CEO Nooyi, New York Post Says

Nov. 8 (Bloomberg) -- Some members of PepsiCo Inc.’s board are frustrated at the lack of a plan for a successor to Chief Executive Officer Indra Nooyi and may address the issue over the next six months, the New York Post reported, citing an unidentified person close to the company.

Pressure to oust Nooyi “will be hard to ignore” if the New York-based company’s stock doesn’t improve, the newspaper cited one person as saying. Nooyi’s initiatives as CEO of the world’s largest snack-food maker, including a push into healthier foods, haven’t shown big results, the newspaper cited sources as saying.

Some board members are also frustrated that Nooyi’s only potential successor, Eric Foss, the head of the company’s bottling business, will leave next month, according to the report. Nooyi took over as CEO in 2006 and has sought to win back consumers who want healthier choices.

Tamara Coxall, a U.K.-based spokeswoman for PepsiCo, couldn’t be immediately reached for comment on the report.

PepsiCo last month reported a 4.1 percent increase in third-quarter profit to $2 billion.

The shares rose 0.8 percent yesterday to $62.50 and have dropped 4.3 percent this year. They traded at the equivalent of $62.57 at 11:43 a.m. in Frankfurt trading.

To contact the reporter on this story: Dermot Doherty in Geneva at ddoherty9@bloomberg.net

To contact the editor responsible for this story: Celeste Perri at cperri@bloomberg.net.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.