Pepsi president John Compton quits

YEREVAN, September 12. /ARKA/.PepsiCo Inc. Tuesday said its President John Compton has decided to leave the company to lead privately-held Pilot Flying J Oil Corporation. Compton will be replaced by Zein Abdalla, who is currently the chief executive of PepsiCo Europe. The changes are effective immediately, Rttnews reports.

Compton, a 28-year Pepsi veteran, was appointed president in March this year. Compton along with Brian Cornell, CEO of PepsiCo Americas Foods, Abdalla were considered as the top internal contenders to succeed PepsiCo's Chief Executive Officer Indra Nooyi.

Nevertheless, Compton taking over the reins of Pilot Flying J Oil will give him the chance to return to Tennessee. Compton had joined PepsiCo as a 21-year-old at the Pulaski, Tennessee Frito-Lay facility. Knoxville, Tennessee-based Pilot Flying J is a chain of truck stops in the United States and Canada.

Compton said, "It isn't easy leaving a company I've been a part of for 30 years. I love PepsiCo, and I will always be part of the PepsiCo family. I have deep and personal ties to Tennessee, and my family's plan all along has been to return to Tennessee at some point. It isn't often that the opportunity arises to run one of America's largest private companies, and this new opportunity was a once in a lifetime chance to do so."

In March, PepsiCo made a few management rejigs. The food and beverage giant appointed Wal-Mart Stores Inc. (WMT) executive Cornell as the new CEO of PepsiCo Americas Foods, the position held by Compton. Compton was then made the president of PepsiCo, a new position created for him.-0-