PepsiCo Vice-Chairman to retire later this year

NEW YORK: PepsiCo Vice Chairman and its International CEO Michael D White will retire from the company later this year, after an association of nearly 20 years with the beverages giant.

Upon his retirement, White would also step down from his seat on the PepsiCo Board of Directors, keeping with the company's practice, PepsiCo said in a statement.

Regarding White's upcoming retirement plan, PepsiCo Chairman and CEO Indra Nooyi said "close to a year ago, Mike shared with me his interest in eventually moving on to 'the next chapter' of his life."

"Since then we have been working together to ensure a smooth and orderly transition. Our current international structure reflects that planning, so we're well prepared for this change," Nooyi added.

In order to ensure a smooth transition, White will continue to look after the integration of Pepsi Bottling Group and PepsiAmericas into into PepsiCo over the coming months.

He would also retain the responsibility for the corporate functions of procurement and information technology, as well as for the global concentrate operations function.

Meanwhile, PepsiCo's component businesses would continue to be managed by two executives -- Zein Abdalla and Saad Abdul- Latif -- both would report to Indra Nooyi.