PepsiCo taps new president

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PepsiCo named John Antico to succeed John Martin as president and chief executive of its Taco Bell restaurant chain. Mr. Antico is the former chairman-CEO of Circle K convenience stores. Mr. Martin will step down after a 60-day transition period to become chairman-CEO of PepsiCo's casual dining division, which includes California Pizza Kitchen, Chevy's Mexican Restaurants and East Side Mario's. Mr. Martin is noted for pioneering the value-pricing wars that have defined fast food in the 1990s. Taco Bell's U.S. revenues totaled $3.5 billion in 1995.

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