NEW YORK (TheStreet) -- PepsiCo (PEP) - Get Report stock is rising by 0.03% to $102.75 in afternoon trading on Thursday, after the Purchase, NY-based food and beverage manufacturer created a new leadership role that will oversee all three North American units.
North America Beverages CEO Al Carey was promoted to North America CEO and will oversee the beverage business as well as Frito-Lay North America and Quaker Foods North America.
The new role was created following the departure of Frito-Lay North America CEO Tom Greco.
The move to combine the businesses under one leadership position shows that PepsiCo is determined to remain a single company despite calls from activist investor Nelson Peltz to split the food and beverage units, Bloomberg reported.
Additionally, Kirk Tanner will head the North America Beverages division as president and COO, while Vivek Sankaran will lead the Frito-Lay North America unit as president and COO. Both executives will report to Carey.
(PepsiCo is held in Jim Cramer's charitable trust Action Alerts PLUS. See all of his holdings with a free trial.)
Separately, PepsiCo has a "buy" rating and a letter grade of A- at TheStreet Ratings because of the company's solid stock price performance, increase in net income, notable return on equity, expanding profit margins and growth in earnings per share.
You can view the full analysis from the report here: PEP
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.