PepsiCo Inc. (NYSE:PEP) announced plans on Monday to change its global structure, creating the new role of president and bringing back a former executive to head its food division in the Americas.
Brian Cornell, who most recently was chief executive of Sam’s Club, part of Wal-Mart Stores Inc. (NYSE:WMT), will head PepsiCo America Foods, as well as Frito-Lay North America, Quaker oatmeal, and others.
Cornell will replace John Compton, who will move into the newly created job of president and oversee global operations and look for ways for the company to cut costs.
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