PepsiCo Elects William R. Johnson to Board of Directors
19 Jan 2015 --- PepsiCo, Inc. announced that its Board of Directors has elected William R. Johnson, the retired Chairman, President and Chief Executive Officer of H.J. Heinz Company, and an Advisory Partner of Trian Fund Management, L.P. to the PepsiCo Board, effective March 23, 2015.
Mr. Johnson will also be included in the company's slate of nominees for election to the Board at the 2015 Annual Meeting of Shareholders.
"Bill will bring deep expertise and insight to the PepsiCo Board as we continue to innovate and drive profitable long-term growth," said Indra Nooyi, PepsiCo Chairman and CEO. "We have had constructive discussions with Trian for nearly two years. They have provided valuable input to many aspects of our business, and the recommendation of Bill as an independent director to the Board."
Nooyi added: "We respect Bill's strong track record of shareholder value creation at Heinz. Bill's extensive consumer packaged goods experience will be an important addition to our Board."
Bill Johnson commented, "I am excited to join PepsiCo's Board of Directors and look forward to working closely with Indra and the other directors to continue driving value for all PepsiCo shareholders."
Nelson Peltz, Chief Executive Officer and a Founding Partner of Trian, commented, "Trian has always believed that PepsiCo is a world-class company with a portfolio of iconic brands, and enormous potential. We support Indra's commitment to operational excellence, which has resulted in improved performance of the company. We are confident that Bill will be a strong and complementary addition to the PepsiCo Board."
"We're pleased to welcome Bill to our Board," said Ian Cook, Presiding Director. "PepsiCo's Board follows corporate governance best practices and, in accordance with recommendations of the National Association of Corporate Directors, will continue to engage actively with management on PepsiCo's strategy and the creation of long-term shareholder value."
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