PepsiCo chairman resigns

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PepsiCo announced a startling resignation on Tuesday, saying Christopher Sinclair has stepped down as chairman-CEO, Pepsi-Cola Co. Mr. Sinclair, 45, had just been promoted to the company's top worldwide beverages job in March. PepsiCo said he resigned for personal reasons, including a desire to spend more time with his family.

He will be replaced by Craig Weatherup, 50, who moves over from president, PepsiCo. Mr. Weatherup is no stranger to Pepsi-Cola Co., having worked there for 21 years, including six as president-CEO, Pepsi-Cola North America.

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