Purchase, N.Y., USA - March 16, 2010, Purchase, N.Y., USA - PepsiCo announced that CFO Richard Goodman will be succeeded at the end of this month by Hugh Johnsto.
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Mr. Goodman has distinguished himself in a range of senior finance and strategy positions, including playing a central role in completing PepsiCo's largest acquisitions in nearly a decade.
Mr. Goodman joined the company in 1992 as vice president of international strategic planning and went on to serve as CFO of former PepsiCo restaurant units KFC International and Taco Bell. Later he was named PepsiCo's general auditor and head of risk management.
In 2001 Mr. Goodman became CFO of the company's international beverage unit and, in 2003, CFO of its combined international food and beverage business, helping to grow sales outside North America from less than $8 billion in 2003 to close to $13 billion in 2006.
Prior to PepsiCo, Mr. Goodman was with W.R. Grace and Company in a variety of global CFO roles. He holds undergraduate and PhD degrees in English as well as an MBA in finance, all from Columbia University.
Mr. Johnston is a longtime company leader who was named executive vice president of global operations earlier this year, with additional responsibilities for the post-merger integration of the two bottling companies.
Since joining PepsiCo in 1987, Mr. Johnston has held M&A, finance and strategy positions in PepsiCo's corporate headquarters as well as finance and general management roles in its North American snack and beverage businesses.
Mr. Johnston left PepsiCo from August 1999 through March 2002 to pursue a general management role as VP, retail, at Merck Medco, leading the company's retail pharmacy card business. He rejoined PepsiCo in 2002 as SVP of mergers and acquisitions, and then became chief financial officer for PepsiCo Beverages & Foods, where he was responsible for leading the finance function for Pepsi-Cola North America, Tropicana, Gatorade North America and Quaker Foods North America.
Mr. Johnston held this position until 2005, when he became SVP of transformation, and in 2006 he assumed the role of EVP of operations, responsible for the company's global transformation, supply chain, procurement and information technology functions.
In 2007, Mr. Johnston was named president of Pepsi-Cola North America Beverages (PCNAB), responsible for strategic direction and financial performance, with accountability for sales, franchise management, field marketing and operations. In that role he positioned the PCNAB product portfolio to compete more effectively in a very challenging external environment. ■