PepsiCo Inc.’s board sent a letter to activist investor Nelson Peltz firmly rejecting his demand to split the company’s snacks and beverages units, supporting a stance taken by Chief Executive Officer Indra Nooyi.
Activist investor Nelson Peltz, who has sought a split of PepsiCo Inc.’s beverage and snack units, was “highly disappointed” with its decision not to heed his proposal and will take the case directly to investors, he said yesterday in a 37-page letter to the company.
When asked last month what kinds of gadget gifts he would be getting for Christmas, Microsoft Corp.’s Satya Nadella, said to be the board’s pick for chief executive officer, had an easy answer: Microsoft devices.
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.
General Motors Co.’s decision to name Mary Barra -- trained as an engineer -- as chief executive officer extends the ranks of women with prowess in science and technology at the highest levels of corporate America.
PepsiCo Inc. Chief Executive Officer Indra Nooyi has taken over a coconut-water company, acquired a dairy in Russia and spent millions on a philanthropic marketing campaign. Her next big investment has a more familiar name: Pepsi-Cola.