Pepsi Names New CFO

PepsiCo says that its current chief financial officer, Richard Goodman, will be replaced at the end of March by veteran staffer Hugh Johnston.

By Andrea Tse , Mar 16, 2010 10:48 AM EDT

NEW YORK (TheStreet) -- PepsiCo (PEP) - Get Report says that its current chief financial officer, Richard Goodman, will be replaced at the end of March by veteran staffer Hugh Johnston.

Pepsi says that the recent completion of the company's two major bottling acquisitions makes this an opportune time for the transition.

Johnston has risen through the PepsiCo ranks over the years, after starting out at the company in 1987. He 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.

Meanwhile, Pepsi

rival Coke (KO) - Get Report

had some breaking news of its own, as it plans to put up a new bottling facility in Malaysia and

pour more than $300 million

over the next five years into boosting growth in Southeast Asia.

-- Reported by Andrea Tse in New York

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