There were media reports this week suggesting PepsiCo’s promotion of Al Carey to the newly created spot of North American chief executive means he is Chairman and CEO Indra Nooyi’s heir apparent. Actually, sources close to the soda and snacks company tell Josh Kosman the opposite is true. Carey is 64 years old, and by promoting him Nooyi, 60, is setting herself up to run the business for at least the next several years.
Nooyi has been at the helm of PespiCo for almost a decade. In fact, a PepsiCo proxy filing from March 18 points to the board’s thinking. “The Board is strongly committed to supporting and retaining Ms.
Nooyi for continuation of PepsiCo’s transformative journey in the upcoming years,” the filing says. A problem at PepsiCo is that there is no logical internal successor, a source notes..