PURCHASE, N.Y., Sept. 19, 2014 /PRNewswire/ -- PepsiCo, Inc. (NYSE: PEP) today announced the election of David C. Page to its Board of Directors. Dr. Page will join the Board effective November 20, 2014.
Dr. Page, 58, brings 30 years of experience in science and medicine to PepsiCo. He currently serves as the director of the Whitehead Institute for Biomedical Research, an independent nonprofit research and educational institution affiliated with Massachusetts Institute of Technology (MIT). He leads a group of scientists focused on cancer research, immunology, developmental biology, stem cell research, regenerative medicine, genetics and genomics.
Dr. Page also serves as a professor of biology at MIT and as an investigator at the Howard Hughes Medical Institute.
"I am pleased to welcome David to the PepsiCo Board of Directors," said PepsiCo Chairman and CEO Indra Nooyi. "David is a highly respected leader in the scientific community whose research has consistently produced significant discoveries and breakthroughs. His expertise will be a valuable addition to the PepsiCo Board as we continue to execute our strategy for delivering sustainable long-term growth."
Ray Hunt, chair of the PepsiCo Nominating and Corporate Governance Committee and chairman and CEO of Hunt Consolidated, said: "David is a distinguished leader and thinker who is widely regarded as one of the foremost experts in his field. He will bring unique perspectives to the PepsiCo Board that help to maximize future growth opportunities and shareholder value creation."
As director of the Whitehead Institute, Dr. Page has done extensive genetics research. In addition to being credited with mapping the human Y chromosome, Dr. Page's laboratory completed the sequencing of the Y chromosome in 2003 in conjunction with the Washington University Genome Sequencing Center. Dr. Page is also the founder of the Whitehead Task Force on Genetics and Public Policy.
He trained in the laboratory of David Botstein, at MIT, while earning an M.D. magna cum laude from Harvard Medical School and the Harvard-MIT Health Sciences and Technology Program. He earned a B.A. from Swarthmore College.
The PepsiCo Board has long drawn from expertise in the scientific and medical community to help inform the company's strategic thinking. Most recently, Victor Dzau served as a director before resigning from the Board earlier this year as a result of his appointment as president of the Institute of Medicine.
The election of Dr. Page brings the total number of directors on the Board to 13, and the total number of independent outside directors to 12. PepsiCo's Board includes one inside director, Ms. Nooyi.
About PepsiCo
PepsiCo products are enjoyed by consumers one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $66 billion in net revenue in 2013, driven by a complementary food and beverage portfolio that includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. PepsiCo's product portfolio includes a wide range of enjoyable foods and beverages, including 22 brands that generate more than $1 billion each in estimated annual retail sales.
At the heart of PepsiCo is Performance with Purpose – our goal to deliver top-tier financial performance while creating sustainable growth in shareholder value. In practice, Performance with Purpose means providing a wide range of foods and beverages from treats to healthy eats; finding innovative ways to minimize our impact on the environment and reduce our operating costs; providing a safe and inclusive workplace for our employees globally; and respecting, supporting and investing in the local communities where we operate. For more information, visit www.pepsico.com.
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SOURCE PepsiCo, Inc.