PURCHASE, N.Y., Aug. 14 (UPI) -- U.S. food and beverage giant PepsiCo Inc. named a 50-year-old woman Monday as its chief executive.
Effective Oct. 1, Indra Nooyi succeeds Steve Reinemund, 58, as the fifth chief executive of the 41-year-old company.
Nooyi joined the $33 billion corporation 12 years ago and has most recently been president and chief financial officer.
Nooyi's current responsibilities will be divided between two PepsiCo veterans. Richard Goodman, 57, who has 12 years of service with the company and is currently CFO of PepsiCo International, will assume the position of chief financial officer, and Hugh F. Johnston, 44, has been promoted to the newly created position of executive vice president-operations.
Both men will report to Nooyi.
Reinemund, a 22-year veteran of the company, will serve as executive chairman and a member of the board of directors until his retirement next May.