PEPSICO INC : Change in Directors or Principal Officers (form 8-K)
July 07, 2020 at 09:50 pm
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Item 5.02 Departure of Directors or Certain Officers: Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On July 3, 2020, the Board of Directors (the "Board") of PepsiCo, Inc.
("PepsiCo") elected Segun Agbaje as an independent member of the Board,
effective July 15, 2020. Mr. Agbaje will serve on the Audit Committee of the
Board, effective July 15, 2020.
Mr. Agbaje, 56, has served since 2011 as Managing Director and Chief Executive
Officer of Guaranty Trust Bank plc, a Nigerian multinational financial
institution. He joined Guaranty Trust Bank in 1991 and held positions of
increasing responsibility, including as Executive Director from 2000 to 2002,
Deputy Managing Director from 2002 to 2011 and as Acting Managing Director in
2011. Prior to joining Guaranty Trust Bank, Mr. Agbaje served as an auditor at
Ernst & Young LLP in the United States from 1988 to 1990. Mr. Agbaje also
currently serves as a director of MasterCard Advisory Board Middle East and
Africa.
Upon joining the Board on July 15, 2020, Mr. Agbaje will be entitled to receive
compensation for new non-employee directors under PepsiCo's non-employee
director compensation program. Under this program, on July 15, 2020, Mr. Agbaje
will receive an initial stock award of 1,000 shares of PepsiCo Common Stock and
a prorated annual equity award equal to a number of phantom stock units
determined by dividing $47,500 by the closing price of PepsiCo Common Stock on
July 15, 2020. Each phantom stock unit is intended to be the economic equivalent
of a share of PepsiCo Common Stock. In addition, Mr. Agbaje is entitled to an
annual cash retainer with the first prorated semi-annual payment of $50,000 to
be made in December 2020.
PepsiCo, Inc. is one of the worldwide leaders in producing non-alcoholic beverages and snacks. Net sales break down by area of activity as follows:
- North America (60.8%): sale of beverages (49.7% of net sales; sodas, concentrated juices, water, tea and coffee-based beverages; Aquafina, Diet Mountain Dew, Diet Pepsi, Gatorade, Gatorade Zero, Mountain Dew, Pepsi, Propel brands, etc.), snacks (44.7%; chips, tortillas and pretzels; Lay's, Doritos, Tostitos, Cheetos, Fritos, Ruffles, etc.), and cereals (5.6%; ready-to-eat cereals, rice, wheat, etc.);
- Europe (14.5%): sale of snacks (Cheetos, Chipita, Doritos, Lay's, Ruffles and Walkers brands) and beverages (7UP, Diet Pepsi, Lubimy Sad, Mirinda, Pepsi and Pepsi Max);
- Latin America (12.7%): sales of snacks (Cheetos, Doritos, Emperador, Lay's, Mabel, Marias Gamesa, Ruffles, Sabritas, Saladitas and Tostitos brands) and beverages (7UP, Gatorade, H2oh!, Manzanita Sol, Mirinda, Pepsi, Pepsi Black, San Carlos and Toddy)
- Asia/Pacific/Australia/New Zealand (6.7%): sale of snacks (BaiCaoWei, Cheetos, Doritos, Lay's and Smith's brands), beverages and syrups (7UP, Aquafina, Mirinda, Mountain Dew, Pepsi and Sting);
- Africa/Middle East/South Asia (5.3%): sale of snacks (Chipsy, Doritos, Kurkure, Lay's, Sasko, Spekko and White Star brands) and beverages (7UP, Aquafina, Mirinda, Mountain Dew and Pepsi).
Net sales are distributed geographically as follows: the United States (57%), Mexico (7.7%), Canada (4.1%), Russia (3.9%), China (3%), the United Kingdom (2.1%), Brazil (1.9%), South Africa (1.9%) and other (18.4%).
PEPSICO, INC. 
