PepsiCo president leaving after less than 1 year

PepsiCo Inc. says its president is leaving to become CEO of a privately held company after less than a year on the job.

The company says John Compton's departure is effective immediately. He had been named to the newly-created position of president in March.

PepsiCo says Zein Abdalla, CEO of its European division, will take over as president. Enderson Guimaraes, who serves as president of the company's global nutrition group, will take over as head of PepsiCo Europe.

Compton had joined the soda and snack food giant as a 21-year-old in a Frito-Lay plant. He is leaving to head Pilot Flying J Oil Corp.

AP