PURCHASE, N.Y., Aug. 24, 2016 /PRNewswire/ -- PepsiCo, Inc.
(NYSE: PEP) today announced that its Board of Directors has elected
Darren Walker as an independent
member of the Board, effective September 21,
2016.
Mr. Walker, 56, currently serves as President of the Ford
Foundation, the second largest private foundation in the United States, and also chairs the United
States National Advisory Board on Impact Investing.
"Darren's unique understanding of business and social issues has
made him a respected leader across sectors for more than two
decades," said PepsiCo Chairman and CEO Indra Nooyi. "His insight into the role of
business in society will be particularly valuable as we continue to
drive our Performance with Purpose agenda and pursue strategies to
drive sustainable long-term growth."
Prior to joining the Ford Foundation in 2010, Walker served as
Vice President at the Rockefeller Foundation since 2005, where he
oversaw numerous initiatives, including the effort to rebuild
New Orleans following Hurricane
Katrina.
Walker also served as chief operating officer of the Abyssinian
Development Corporation, Harlem's largest community development
organization, from 1995 to 2002. During his tenure, he oversaw a
comprehensive revitalization program resulting in more than 1,000
new units of housing, Harlem's first commercial development in
twenty years and New York's first
public school built and managed by a community organization.
Earlier in his career, Walker worked in international law and
finance at Cleary Gottlieb Steen & Hamilton and UBS.
"We welcome Darren to the PepsiCo Board of Directors," said
Ian Cook, Presiding Director. "His
experience and expertise across sectors will further strengthen the
Board and our ability to create shareholder value."
Walker currently serves as a member of the boards of Carnegie
Hall, the New York City Ballet, Friends of the High Line and the
Arcus Foundation. He is a member of the Council on Foreign
Relations and the American Academy of Arts and Sciences, and was
named one of the "100 Most Influential People in the World" by
Time magazine in 2016.
He holds a J.D., B.S. and B.A. from The University of Texas at Austin.
About PepsiCo
PepsiCo products are enjoyed by consumers one billion times a
day in more than 200 countries and territories around the world.
PepsiCo generated more than $63
billion in net revenue in 2015, driven by a complementary
food and beverage portfolio that includes Frito-Lay, Gatorade,
Pepsi-Cola, Quaker and Tropicana. PepsiCo's product portfolio
includes a wide range of enjoyable foods and beverages, including
22 brands that generate more than $1
billion each in estimated annual retail sales.
At the heart of PepsiCo is Performance with Purpose – our goal
to deliver top-tier financial performance while creating
sustainable growth and shareholder value. In practice, Performance
with Purpose means providing a wide range of foods and beverages
from treats to healthy eats; finding innovative ways to minimize
our impact on the environment and reduce our operating costs;
providing a safe and inclusive workplace for our employees
globally; and respecting, supporting and investing in the local
communities where we operate. For more information, visit
www.pepsico.com.
Cautionary Statement
Statements in this communication that are "forward-looking
statements" are based on currently available information, operating
plans and projections about future events and trends. Terminology
such as "believe," "expect," "intend," "estimate," "project,"
"anticipate," "will," or similar statements or variations of such
terms are intended to identify forward-looking statements, although
not all forward-looking statements contain such terms.
Forward-looking statements inherently involve risks and
uncertainties that could cause actual results to differ materially
from those predicted in such forward-looking statements. Such risks
and uncertainties include, but are not limited to: changes in
demand for PepsiCo's products; regulatory initiatives, including
the imposition of new or increased taxes; PepsiCo's ability to
compete effectively; unstable political conditions, civil unrest or
other developments and risks in the markets where PepsiCo's
products are made, manufactured, distributed or sold; unfavorable
economic conditions in the countries in which PepsiCo operates;
supply or business disruptions; failure to realize anticipated
benefits from PepsiCo's productivity initiatives or global
operating model; product quality, safety and integrity issues;
damage to PepsiCo's reputation or brand image; fluctuations or
other changes in exchange rates; and other factors discussed in
PepsiCo's filings with the Securities and Exchange Commission.
Investors are cautioned not to place undue reliance on any such
forward-looking statements, which speak only as of the date they
are made. PepsiCo undertakes no obligation to update any
forward-looking statements, whether as a result of new information,
future events or otherwise.
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SOURCE PepsiCo