Updated from Saturday, Sept. 19

PURCHASE, N.Y. (

TheStreet

) -- Michael White, a top

PepsiCo

(PEP) - Get Report

executive, is retiring by year-end from the food-and-beverage company.

White, 57 years old, heads Pepsi's international businesses and is also a vice chairman on the company's board. PepsiCo confirmed White's departure Sunday to the

Wall Street Journal

.

Although he has been a close partner of Pepsico CEO Indra Nooyi, White was passed over for the top executive job when Nooyi became CEO in 2006, and colleagues say he would like to run a company, according to the newspaper.

White told the

Journal

in an interview that he would remain at PepsiCo until the end of November or December but that PepsiCo "will be well prepared" to integrate

Pepsi Bottling

(PBG)

and

PepsiAmericas

(PAS)

when the deal closes, probably early next year. White led negotiations for PepsiCo's $7.8 billion acquisition of the two bottlers.

He will also remain on the board until he retires, and will continue to oversee corporate functions such as procurement, information-technology and global-concentrate operations, the

Journal

adds.

White joined Pepsico's Frito-Lay unit in 1990, according to the

Journal

.

Shares of Pepsico closed Friday up $1.06, or 1.8%, at $59.86.

-- Reported by Joseph Woelfel in New York. Ross Snel contributed to this article

.

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