Current Report on Form 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
August 8, 2001
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Date of Report (Date of earliest event reported)
PepsiCo, Inc.
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(Exact name of registrant as specified in its charter)
North Carolina
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(State or other jurisdiction of incorporation)
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1-1183 (Commission File Number) |
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13-1584302 (IRS Employer Identification No.) |
700 Anderson Hill Road, Purchase, New York 10577
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(Address of Principal Executive Offices)
Registrant's telephone number, including area code: (914) 253-2000
Item 5. |
Other Information
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The information in Exhibit 99.1 is incorporated herein by reference.
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Item 7. |
Financial Statements, Pro Forma Financial Information and Exhibits.
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99.1 |
Press Release issued by PepsiCo, Inc. dated August 8, 2001. |
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Date: August 8, 2001 |
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PepsiCo, Inc. |
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By: |
/S/ LAWRENCE F. DICKIE |
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Lawrence F. Dickie |
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Vice President, |
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Associate General Counsel |
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and Assistant Secretary |
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INDEX TO EXHIBITS
Exhibit Number |
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Description |
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Page
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99.1 |
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Press Release issued by PepsiCo, Inc. dated August 8, 2001. |
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5 |
4
Exhibit 99.1
PEPSICO TO
MAKE SEVERAL ORGANIZATION
CHANGES FOLLOWING MERGER WITH QUAKER
PURCHASE, N.Y., Aug. 8, 2001 -- PepsiCo today announced several organization changes designed to help the company gain the full
benefit of its recently-completed merger with The Quaker Oats Company.
One of the most
exciting things about merging two outstanding companies like PepsiCo and Quaker
is that we can do far more together than either company could on its own,
said PepsiCo Chairman and Chief Executive Officer Steve Reinemund. These
changes will enable us to use our combined strength to the greatest
advantage.
Some of the changes
will allow us to do things more efficiently and at a lower cost by joining
forces, Reinemund said. Others facilitate sharing our intellectual
capital -- the knowledge and expertise of our businesses and people, so we can
be more competitive in the marketplace.
The changes include:
- A major benefit of the merger is the opportunity to use Quakers large,
efficient broker/warehouse system to expand distribution of Tropicanas
products. To facilitate that, Tropicana will report in through Bob Morrison, 59,
Quaker Chairman, President and CEO and Vice Chairman of PepsiCo, who will also
oversee Gatorade and Quaker food operations and distribution in North America
(U.S. and Canada). Tropicana will continue to be headquartered in Bradenton,
Florida and led by President and Chief Executive Officer Brock Leach, 42. Since
Leach became CEO in 1999, Tropicana has posted some of the strongest growth in
its history.
- Pepsi-Cola International, Tropicana International and Gatorade International
will make up a new division called PepsiCo Beverages International (PBI). PBI
will be led by President and CEO Peter M. Thompson, 54, who has been president
and CEO of Pepsi-Cola International since 1996. Placing the three international
beverage businesses within a single umbrella organization will provide each the
benefit of substantially greater scale and efficiency. PBI will be based in
Purchase, N.Y.
- more -
- A new division called Frito-Lay International will combine Frito-Lay Europe/
Africa/Middle East, Frito-Lay Latin America/Asia Pacific/Australia and the
Quaker snack and food businesses outside North America. Frito-Lay International
will be led by President and CEO Rogelio Rebolledo, 57, a 25-year PepsiCo
executive and a principal architect of PepsiCos international snack
business. Rebolledo has been president and CEO of Frito-Lay Latin America/Asia
Pacific/Australia since 2000 and previously led Frito-Lay Latin America/Asia
Pacific. Michael White, 49, will continue in the key role as president and chief
executive officer of Frito-Lay Europe/Africa/Middle East, with additional
responsibility for Quaker Foods Europe. White is an 11-year PepsiCo veteran and
has been running the companys snack business in Europe/Middle East/Africa
since last year. Frito-Lay International will be based in Plano, Texas.
- A new unit will be formed within Frito-Lay North America (FLNA) that will be
dedicated exclusively to convenience food -- including non-core
salty snacks (snack kits, meat snacks, etc.) and Quaker snacks (grain and cereal
bars, rice snacks, etc.) This new unit will be sharply focused on the vast
opportunities outside Frito-Lays historic strength in potato chips,
tortilla chips, pretzels and other traditional salty snacks. It will report to
FLNA President and CEO Al Bru, 52, a 25-year PepsiCo veteran.
- Management of hot fill beverage production and co-packing for
Gatorade and Tropicana will be consolidated at Quaker in Chicago under Bob
Morrison. In addition, contract packing of hot fill products will be jointly
managed by Quaker and Pepsi-Cola North America. These steps will enable PepsiCo
to manufacture Gatorade, Tropicana Twister, Dole, Seasons Best, SoBe and
other hot fill products more efficiently and at a lower cost. With the addition
of Gatorade, PepsiCo now has the largest hot-fill manufacturing capacity of any
beverage company in the world.
- The coordination and consolidation of strategic materials purchasing across
PepsiCo divisions will be expanded to include the Quaker businesses. That
function will report to Bob Morrison in his role as PepsiCo vice chairman.
Under this process, one division purchasing executive is responsible for
buying a certain category of materials (i.e. bottles and closures or
paperboard and corrugated) for multiple divisions.
PepsiCo completed its merger with Quaker on Thursday Aug. 2 to form a company sharply focused on convenient foods and
beverages. With pro-forma revenues of about $25 billion, PepsiCo today ranks as the world's fifth largest food and beverage
company in revenues.
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