PepsiCo Vice-Chairman to retire later this year

PepsiCo Vice-Chairman to retire later this year

Upon his retirement, White would also step down from his seat on the PepsiCo Board of Directors, keeping with the company's practice, PepsiCo said in a statement.
Regarding White's upcoming retirement plan, PepsiCo Chairman and CEO Indra Nooyi said "close to a year ago, Mike shared with me his interest in eventually moving on to 'the next chapter' of his life."

"Since then we have been working together to ensure a smooth and orderly transition. Our current international structure reflects that planning, so we're well prepared for this change," Nooyi added.

In order to ensure a smooth transition, White will continue to look after the integration of Pepsi Bottling Group and PepsiAmericas into into PepsiCo over the coming months.
He would also retain the responsibility for the corporate functions of procurement and information technology, as well as for the global concentrate operations function.
Meanwhile, PepsiCo's component businesses would continue to be managed by two
executives — Zein Abdalla and Saad Abdul- Latif — both would report to Indra Nooyi.

While, Abdalla, would become the CEO of PepsiCo Europe, Abdul-Latif, would be the CEO of PepsiCo Asia, Middle East, Africa.

White joined PepsiCo in 1990 as VP of planning for FLNA and has also held senior positions, including CFO of Frito-Lay North America, EVP and CFO of Frito-Lay International, CFO of Pepsi-Cola Company worldwide and CFO of PepsiCo.
"It would be difficult to overstate Mike's contribution to PepsiCo over two decades," Nooyi said, adding that "Mike's PepsiCo career has been nothing short of remarkable".
Announcing his upcoming retirement White said: "I am deeply honoured to have been a part of PepsiCo for so many years. It has been a great privilege to be a part of the company's growth and success and to work alongside so many outstanding people."