(Reuters) - PepsiCo Inc <PEP.N> announced a management shake-up on Wednesday that includes the departure of bottling chief Eric Foss and the demotion of Massimo d'Amore, who ran its Americas beverages group.Those two positions are effectively being combined into one, to be held by Albert Carey, a 30-year PepsiCo veteran who most recently ran its Frito-Lay North America unit. The change is effective immediately."We believe this change was necessary and view it favorably," Credit Suisse analyst...Read Full Story
PHILADELPHIA/CHICAGO (Reuters) - PepsiCo Inc <PEP.N> won over its two largest bottlers by raising its takeover offers more than 20 percent to $7.8 billion, giving investors a welcomed but not unexpected windfall.PepsiCo said it will pay $36.50 per share for Pepsi Bottling Group Inc <PBG.N> and $28.50 per share for PepsiAmericas Inc <PAS.N>. That is up from its April bids of $29.50 per share for Pepsi Bottling and $23.27 per share for PepsiAmericas."The market was betting on mid-$30s price for Pepsi Bottling...Read Full Story
PepsiCo. on Monday reiterated its 2010 earnings prediction after it completed the purchase of its two biggest bottlers.The company, based in Purchase, N.Y., expects earnings per share growth of 11 percent to 13 percent over 2009 results of $3.77 per share. That implies 2010 earnings per share of $4.18 to $4.26.Analysts surveyed by Thomson Reuters forecast 2010 earnings per share of $4.14.PepsiCo. also expects to grow earnings per share by "low double-digit" percentages in 2011 and 2012.The...Read Full Story
CHICAGO (Reuters) - Pepsi Bottling Group Inc <PBG.N> reported a higher-than-expected quarterly profit as price increases and stronger U.S. sales of carbonated soft drinks helped offset declining demand for pricier beverages.Falling prices for aluminum also helped boost earnings, and the largest bottler of PepsiCo Inc <PEP.N> beverages said full-year profit would probably come in at the high end of its forecast even though results in the current quarter might miss analysts' expectations.Shares of Pepsi...Read Full Story
ARAMARK announced today that its board of directors has elected Eric J. Foss as chief executive officer and president of the company, effective immediately.
Foss, 53, was also elected to the ARAMARK board of directors. Joseph Neubauer, who served as CEO for 29 years, will remain as chairman of the board.
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PHILADELPHIA, May 8, 2012 /PRNewswire/ -- ARAMARK announced today that its Board of Directors has elected Eric J. Foss as Chief Executive Officer and President of the company effective immediately. Foss, 53, was also elected to the ARAMARK Board of Directors. Joseph...
Aramark Corp., one of Philadelphia’s largest companies, has hired a former PepsiCo executive to succeed longtime chief executive Joseph Neubauer. Eric J. Foss joined the privately held food-services and facilities-management giant as its new president and CEO Tuesday. Foss, 53, retired as CEO of Pepsi Beverages Co., a $20 billion division of the soft-drink maker, on Dec. 9.
Aramark Corp. says that it hired former Pepsi manager Eric J. Foss to be chief executive of the food service company.The 53-year-old Foss replaces Joseph Neubauer — CEO since 1983 — who was named chairman ...
CEO Eric Foss has been the chief executive officer of The Pepsi Bottling Group Inc since 1998. He is 48 years old. Follow Mr. Foss and The Pepsi Bottling Group Inc in the news and blogs or share your own opinion about the company and its leadership.