Here’s how Pepsi is changing it up

PepsiCo is bringing in new leadership in an effort to initiate some company changes in the upcoming New Year.

The company announced that Albert P. Carey, chief executive officer, PepsiCo North America, will retire at the end of March 2019 after nearly four decades at PepsiCo. Vivek Sankaran, who currently serves as president and chief operating officer of Frito-Lay North America, will now become its CEO, and Kirk Tanner, who currently serves as President and chief operating officer of North America Beverages, will become its CEO.

"Al has been an invaluable leader, colleague, advisor and friend, and will be missed by all of us at PepsiCo and all of the customers and partners he worked with over his exemplary career," said Ramon Laguarta, PepsiCo chief executive officer. "Al's unique combination of style, skill, entrepreneurial spirit and executional excellence, has helped make PepsiCo one of the most admired businesses in the world, and raised the bar for our current and future associates. We wish him all the best in his next chapter. While Al leaves big shoes to fill, I have every confidence in our North America businesses under the skilled leadership of Vivek and Kirk in these critical roles."

The news comes shortly after the company’s previous CEO, Indra Nooyi, stepped down after 12 years. Many speculate that this would result in the company finally splitting its beverage and snack businesses after years of speculation.