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Pepsi shakes up drinks unit in bid to boost its business
PEPSI announced a shake-up of its beverages unit yesterday, appointing a new head to try to turn around the business, which has lagged behind Coca-Cola in North America.
Pepsi named Albert Carey, a 30-year PepsiCo veteran who most recently ran its Frito-Lay North America unit, to be chief executive of PepsiCo Americas Beverages, effective immediately.
Carey, 60, will take over responsibility for all aspects of the beverage business in the Americas, including the North American bottlers that PepsiCo bought in 2010.
Eric Foss — former chief executive of Pepsi Bottling Group, which PepsiCo acquired last year — will leave the company in December.
His eventual departure was expected following the integration of the bottler.