Dear Fellow Shareholders,
A Roman author said more than two millennia ago that anyone can steer the ship when the sea is calm. The true test of endurance and stamina, he went on, is to navigate through rough waters. Well, this year has seen some of the roughest possible waters. The economic tempest of 2008 turned into the perfect storm of 2009. Business was battered by volatile commodity costs, frozen credit markets, fluctuating currencies and negative GDP rates.
At PepsiCo, it seemed as if each day brought a new challenge. Every one of them tested the strength and capabilities of our organization. And I can declare with great pride that we passed the test of endurance and stamina wonderfully well. We are a company with great resilience. The ability of our associates to pull together has left me excited about our momentum from 2009 into 2010 and beyond. MORE
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A Sports Performance Innovator
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A Big Step Toward a Reduced Carbon Footprint
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Strength on Strength
In 2009, we embarked on a game-changing initiative with the acquisitions of our anchor bottlers…
