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PEPSICO'S MICHAEL JORDAN TO RETIRE; COMPANY ANNOUNCES SEVERAL MANAGEMENT CHANGES

PEPSICO'S MICHAEL JORDAN TO RETIRE; COMPANY ANNOUNCES SEVERAL MANAGEMENT
 CHANGES
 PURCHASE, N.Y., June 29 /PRNewswire/ -- Michael H. Jordan, 56, chairman of PepsiCo Inc.'s (NYSE: PEP) international soft drink and snack food divisions and a member of PepsiCo's board of directors, today announced his retirement from the corporation, effective July 31. Jordan said he will be joining several long-time associates at Clayton Dubilier and Rice, a New York-based investment company.
 Jordan joined PepsiCo 18 years ago after a distinguished career at McKinsey and Company. He has been one of the corporation's most accomplished and admired senior executives, whose versatility is evidenced by his success in a wide variety of PepsiCo assignments. Jordan was twice president of the company's Frito-Lay division and has served as both chief financial officer and president of PepsiCo itself. He has also held several senior international posts.
 Commenting on Jordan's retirement, PepsiCo Chairman and Chief Executive Officer Wayne Calloway said: "Mike is everything a senior executive should be. He's exceptionally bright, broadly strategic in his outlook and remarkably diverse. He's been especially important to us in the international arena, where Mike has keen business insight."
 Calloway said that given the unique nature of Jordan's most recent assignment he would not be replaced in the same capacity. "However, Mike's retirement does create an opportunity to realign several of our operating divisions and to expand the responsibilities of a number of our key executives," Calloway said.
 He announced the following changes:
 -- Steven S. Reinemund, 44, currently president and chief executive officer of Pizza Hut Inc., will become president and CEO of Frito-Lay. Both he and John S. Pingel Jr., 51, president and CEO of PepsiCo Foods International, will report to Roger A. Enrico, 47, who becomes chairman of PepsiCo Worldwide Foods. Enrico had been chairman of Frito-Lay.
 -- Allan S. Huston, 48, currently president of KFC International, will become president and CEO of Pizza Hut.
 -- Christopher A. Sinclair, 41, president and CEO of Pepsi-Cola International, will now report to Calloway.
 Of the new assignments, Calloway said: "One of PepsiCo's greatest strengths is our extraordinarily deep reserve of talented and tested senior managers. While Mike Jordan's retirement is certainly a loss, the corporation is blessed to have such a strong group of executives to lead us into the future."
 -0- 6/29/92
 /CONTACT: Kenneth Ross of PepsiCo, 914-253-2725/
 (PEP) CO: PepsiCo Inc. ST: New York IN: FOD SU: PER


GK -- NY025 -- 4603 06/29/92 10:06 EDT
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Publication:PR Newswire
Date:Jun 29, 1992
Words:410
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