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Gary Rodkin Replaced by Dawn Hudson, John Compton

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NEW YORK ( -- PepsiCo announced today that the chairman-CEO of PepsiCo Beverages and Foods North America has resigned and will be replaced by two current PepsiCo executives.

Gary Rodkin, 52, will leave in June to "pursue new career opportunities," according to a PepsiCo statement, and will be replaced immediately by current Pepsi-Cola North America President Dawn Hudson and John Compton, previously vice chairman of Frito Lay North America and president of the salty snacks division. Both will report directly to PepsiCo's chairman-CEO, Steve Reinemund.

Adds CEO title
Ms. Hudson, 47, will add the title of CEO of Pepsi-Cola North America, continuing to oversee the development, marketing and sales of Pepsi beverages sold through its bottler network and adding responsibility for aligning the company's bottler partnerships.

Mr. Compton, 43, has been named president-CEO of QTG, the combined Quaker Foods and Tropicana/Gatorade divisions in the U.S. and Canada. Mr. Compton's former responsibilities will be assumed by Irene Rosenfeld, chairman-CEO of Frito-Lay.

Mr. Rodkin has held the position since 2002.

Analyst: 'Good business move'
UBS Warburg analyst Caroline Levy called the shift a "good business move," offering that "Dawn is well-liked by the bottlers and has done well for carbonated soft drinks in a difficult environment." As for the promotion of Mr. Compton, she said she believes it "was critical to keeping [him] at PepsiCo. Since they brought on Irene Rosenfeld, PepsiCo needed to give John his own business to run."

Ms. Levy said Mr. Compton's challenge will be to find ways to maximize distribution opportunities between Frito-Lay's direct-to-store delivery system and Quaker's shipments to warehouses in order to drive sales and cut costs, something Ms. Levy expects Mr. Compton will work closely with Ms. Rosenfeld on, especially in relation to Quaker snacks.

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