PepsiCo, Inc. (NYSE: PEP) today announced the election of Sir George Buckley to its Board of Directors. Buckley will join the Board and the Audit Committee effective September 19, 2012.
Buckley, 65, assumed the role of Chairman of Arle Capital LLP, a private equity firm, earlier this year. From 2005 to 2012, he served as Chairman, President and Chief Executive Officer of 3M Company, and from 1997 to 2005 as Chairman and Chief Executive Officer of Brunswick Corporation, a multi-billion dollar boat and recreational product manufacturer.
He is a member of the boards of Stanley Black & Decker, Inc., Archer-Daniels Midland Company and Hitachi Ltd.
"George has years of proven results in business and financial leadership, innovation, and management," said PepsiCo Chairman and CEO Indra Nooyi. "We are delighted that he will bring that strong record of achievement to PepsiCo."
Buckley received a Ph.D. in engineering through joint studies at the University of Southampton and the University of Huddersfield in the UK. He also holds a Bachelor of Science in electrical and electronic engineering and an honorary Doctor of Science degree in engineering from the University of Huddersfield. He was knighted in 2011 for his services to industry.
The election of Buckley to PepsiCo's Board will bring the total number of directors to 13, and the total number of independent outside directors to 12. PepsiCo's Board includes one inside director, Ms. Nooyi.