PepsiCo continued its management shakeup today in a move that is likely paving the way for a successor to embattled CEO Indra Nooyi, reports the AP.The company has been stagnant over the past five years, and lately it has been trying to mix things up internally to get it jump-started. For instance, it completely revamped its marketing wing last year, bringing in big-name hires like Brad Jakeman, former CMO of Blizzard Activision.
This latest move shows that Pepsi is “deepen[ing] its management bench,” says Martinne Geller at Reuters. One of these executives is likely being groomed to be Nooyi’s successor after she steps down or is forced out.
Here are the four most likely internal candidates for the CEO job, according to Geller’s report:
- John Compton — He was promoted to the newly-formed position of president of PepsiCo in this shakeup. It’s an upgrade from his former spot as CEO of Pepsi’s Americas Foods division.
- Brian Cornell — Taking Compton’s old job is Cornell, who’s a big hire for Pepsi. His most recent gig was heading up the Sam’s Club division at retail juggernaut Walmart.
- Zein Abdalla — He’s the current CEO of PepsiCo Europe, and he has been in the company for more than a decade-and-a-half.
- Hugh Johnston — Geller’s source says Johnston, PepsiCo’s CFO, is a less likely candidate, but he’s definitely on the list.
Is a change actually going to happen, and if so, when? After all, she does still have support from PepsiCo’s board of directors.
It may depend on the World Bank, which is narrowing down its list (which includes Nooyi as a contender) in as it searches for a new president.
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