Shake-up at Pepsi

PepsiCo announced a shake-up of its beverages unit yesterday, appointing a new head to try to turn around the business, which has lagged Coca-Cola.

Pepsi named Albert Carey, a 30-year PepsiCo veteran who most recently ran Frito-Lay North America, to be CEO of PepsiCo Americas Beverages.

The new role for Carey, 60, essentially combines those of Eric Foss, the former CEO of the bottler, and Massimo d’Amore, whose tenure as Americas beverage chief is often associated with a failed redesign of Tropicana Pure Premium juice packaging that was scrapped less than two months after its launch due to a plunge in sales.

Foss — former CEO of Pepsi Bottling Group, which PepsiCo — will leave in December. His eventual departure was expected following the integration of the bottler.

PepsiCo shares rose 1.72 percent, to $61.58.