By Dow Jones Business News,
February 07, 2014, 05:45:00 PM EDT
Snack and beverage giant PepsiCo Inc. ( PEP ) on Friday said Rona Fairhead has been elected to its board, boosting the
total number of directors to 14.
Mrs. Fairhead, 52, served as chairman and chief executive of the Financial Times Group division of Pearson PLC (PSO,
PSON.LN) from 2006 to 2013, and prior to that was Pearson's chief financial officer, said PepsiCo.
Mrs. Fairhead has also held a variety of leadership positions at Bombardier Inc. (BDRBF, BBD.A.T, BBD.B.T) and at
Imperial Chemical Industries PLC. (ICIYY), and currently serves on the board of HSBC Holdings PLC (HSBC, HSBA.LN),
chairs the board of HSBC North America Holdings and is on the board of the Economist Group.
"Rona is a proven business leader with global experience spanning multiple industries and deep expertise in finance
and general management," said PepsiCo Chief Executive Indra Nooyi.
The move brings the total number of directors on the board to 14, and the total number of independent outside
directors to 13, the company added.
PepsiCo's North American beverage unit, which includes Gatorade sports drinks, Tropicana juices and Mountain Dew soda,
has been losing market share to Coca-Cola Co. (KO) and the company has been exploring alternatives to improve the
The company in October reported third-quarter earnings that were roughly flat from a year earlier as sales declined in
the Americas drink business segment, though snack sales improved.
Shares edged down 34 cents to $79.88 in recent after-hours trading. Through Friday's close, the stock has risen 10% in
the last 12 months.
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