PepsiCo Gives CFO Hugh Johnston Additional Role of Vice Chairman

Hugh Johnston
PepsiCo CFO Hugh Johnston. Source: PepsiCo via Bloomberg

PepsiCo Inc. gave Chief Financial Officer Hugh Johnston the additional title of vice chairman and put him in charge of the company’s global business and information-solutions function.

Enderson Guimaraes, executive vice president of Global Categories and Operations, is leaving PepsiCo, the company said Wednesday in a statement. Eugene Willemsen, president of PepsiCo Lipton, and Brian Newman, senior vice president and general manager of Global E-Commerce, have been promoted to positions that will oversee many of Guimaraes’s former responsibilities.

PepsiCo said the expansion of Johnston’s responsibilities is meant to help the company adapt to the emergence of e-commerce as an important distribution channel for beverages and food. Mehmood Khan, PepsiCo’s chief scientific officer and an executive vice president, also was given the vice chairman title earlier this year and tasked with overseeing the company’s sustainability efforts.

The company also said Wednesday that Laxman Narasimhan, currently chief executive officer of Latin America Foods, has been named CEO for Latin America, leading the continent’s beverages business as well.

PepsiCo fell 0.8 percent to $95.61 at the close in New York, before the personnel changes were announced. The shares have gained 1.1 percent this year.

The company is scheduled to report second-quarter earnings on Thursday morning.

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