Retail News Breaks
Former Sam's Club CEO to lead PepsiCo unit
March 12th, 2012
PURCHASE, N.Y. – PepsiCo Inc. has tapped former Sam's Club president and chief executive officer Brian Cornell to serve as president of PepsiCo America Foods.
In his new post, Cornell will be responsible for Frito-Lay North America and Quaker Foods & Snacks North America, as well as PepsiCo Mexico, South America Foods, PepsiCo customer teams and all of the company's "Power of One" activities within the Americas.
Cornell brings more than 30 years of experience in consumer products marketing and general management to his new position. He most recently spent three years as president and CEO of Sam's Club, Walmart's warehouse club division, where he is credited with delivering solid business results based on understanding members' needs and responding to them.
Before that he led a turnaround at the arts and crafts specialty retailer Michaels Stores Inc., where he was CEO, and his retail career also includes a stint as executive vice president and chief marketing officer at Safeway Inc., where he was responsible for the food retailer's marketing, merchandising, manufacturing and distribution operations. Cornell previously held various general management positions at PepsiCo, including president of its Tropicana division, president of PepsiCo beverages for Europe and Africa, and president of PepsiCo North America Foodservice.
"Brian's strategic vision and deep experience across several industries provide a unique perspective to our senior leadership team," says PepsiCo president and CEO Indra Nooyi. "He has successfully led transformational agendas at his assignments at Sam's Club and Safeway and is well versed in what it takes to be a senior executive at a large public company. We look forward to his contributions and welcome him back to the PepsiCo family."
Cornell's appointment is part of a new leadership team at PepsiCo. The company has also promoted current PepsiCo Americas Foods CEO John Compton to the new position of president of PepsiCo, with responsibility for global beverages, global snacks and global nutrition, as well as global operations (information technology, glocal procurement, supply chain and productivity), global marketing services and corporate strategy.
"This executive position will serve as a key driver for our long-term growth strategy," Nooyi says.
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