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Reuters reports that PepsiCo's president, Zein Abdalla, plans to retire from the company at the end of the year. The story notes that this is the second major departure from Pepsi's top ranks this year, the first being Brian Cornell's decision to leave his job as head of the company's Americas Foods unit to become CEO at Target.

No reason was given for Abdalla's retirement.

• Target said yesterday that it has hired Jacqueline Hourigan Rice, chief compliance officer at General Motors, to be its new chief risk and compliance officer.
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