Bloomberg reports that PepsiCo “is trying to recruit former Wal-Mart Stores Inc. executive Brian Cornell for a significant job with the soda and snacks company.”
Cornell announced that he was leaving Walmart last month, saying that he wanted to relocated to the Northeast for family reasons. PepsiCo’s headquarters is in Purchase, New York, about 40 minutes north of Manhattan.
According to the Bloomberg report, the hiring is not yet certain, but if it happens Cornell would report directly to CEO Indra Nooyi and “would be equivalent in status to a division CEO.”
Bloomberg reports that Cornell’s “experience at Wal-Mart, the world’s largest retailer and PepsiCo’s biggest customer, could help PepsiCo maximize the power of its vast snacks and drinks portfolio with retailers. The company’s flagship soft drinks, including Pepsi-Cola and Diet Pepsi, have lost share to Coca-Cola Co., whose stock also outperformed PepsiCo last year.”
In addition, the story notes, in addition to Cornell’s past roles at both Michaels Stores and Safeway, “at PepsiCo, from 1991 until 2004, he held positions at Tropicana and in the foodservice division before becoming a senior sales vice president for Pepsi-Cola North America.”
Cornell announced that he was leaving Walmart last month, saying that he wanted to relocated to the Northeast for family reasons. PepsiCo’s headquarters is in Purchase, New York, about 40 minutes north of Manhattan.
According to the Bloomberg report, the hiring is not yet certain, but if it happens Cornell would report directly to CEO Indra Nooyi and “would be equivalent in status to a division CEO.”
Bloomberg reports that Cornell’s “experience at Wal-Mart, the world’s largest retailer and PepsiCo’s biggest customer, could help PepsiCo maximize the power of its vast snacks and drinks portfolio with retailers. The company’s flagship soft drinks, including Pepsi-Cola and Diet Pepsi, have lost share to Coca-Cola Co., whose stock also outperformed PepsiCo last year.”
In addition, the story notes, in addition to Cornell’s past roles at both Michaels Stores and Safeway, “at PepsiCo, from 1991 until 2004, he held positions at Tropicana and in the foodservice division before becoming a senior sales vice president for Pepsi-Cola North America.”
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