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PepsiCo Names Paula Banks SVP, Global Diversity; Ronald Harrison to Retire After 43 Year Career

PR Newswire

PURCHASE, N.Y., June 23 /PRNewswire-FirstCall/ -- PepsiCo today announced the appointment of Paula Banks as senior vice president, global diversity and organization partnerships. Her new role includes responsibilities previously held by Ronald E. Harrison, who will retire in March after more than four decades with PepsiCo.

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Ms. Banks, who will report to Chairman and Chief Executive Officer Steve Reinemund, joins PepsiCo from BP Amoco, the world's second largest transnational oil company. Since 1999 she has worked at the company's London headquarters as senior vice president, social strategy and policy and as president of the BP Foundation, in which she was charged with building stronger relationships between BP and the communities in which it operates around the world. Previously she worked in Chicago as president of the Amoco Foundation and director of corporate affairs for Amoco. Earlier she spent 24 years at Sears Roebuck and Co. in a variety of positions including retail management, human resources, external affairs and public relations and served as president of the Sears Roebuck Foundation.

"We believe our high priority on diversity and inclusion will give us a clear strategic advantage in the marketplace," said Steve Reinemund, PepsiCo chairman and chief executive officer. "Paula Banks is an outstanding leader with great insight and experience who is well equipped to advance that effort. I am delighted that she will lead our diversity initiatives, both inside PepsiCo and in the communities where we do business."

Ms. Banks succeeds Ronald Harrison, senior vice president of global diversity and community affairs, who will assume a transitional role as special assistant to the chairman until his retirement in March 2004. Mr. Harrison's ties to PepsiCo go back to 1960, when he joined Levine Pepsi Distributors in New York City as a front-line salesman. Four years later he joined Pepsi-Cola Company and held management positions in sales, marketing and training, including: area vice president for Pepsi-Cola Bottling Co. of New York, division vice president for Pepsi-Cola Company-owned bottling plants in the Northeast and national sales director. He subsequently became vice president of community affairs for PepsiCo and in 2001 was named senior vice president of global diversity. He has been involved in numerous industry and community organizations, including serving as chairman of the International Franchise Association and the Business Consortium Fund.

"Ron Harrison has made an enormous contribution to PepsiCo over more than four decades," said Mr. Reinemund. "While recently he has played a crucial role in shaping the strategic diversity and inclusion efforts being pursued across PepsiCo, he is a proven, versatile leader who has added to our success in many different roles. We owe him a big debt of gratitude and wish him the very best in his retirement."

In her new position, Ms. Banks will lead the next phase of PepsiCo's internal and external efforts to promote diversity and inclusion. In addition to assuming Ron Harrison's responsibilities, which were focused primarily on developing external programs, she will work to further develop various internal programs and establish PepsiCo as a leader in promoting an inclusive work environment. To do this, Ms. Banks will actively work with PepsiCo's division leaders as well as with the marketing, human resources and purchasing groups. She also will work with PepsiCo's ethnic advisory boards to ensure that the company balances the varying interests of a diverse array of employees, customers, partners and consumers. Photo: NewsCom: Archive: Photo Desk, +1-888-776-6555 or +1-212-782-2840 PepsiCo

CONTACT: Richard M. Detwiler, Jr., Vice President, Public Relations, atPepsiCo, +1-914-253-2725

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Source: PR Newswire

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