Pepsi's Global Marketing Chief Is Out After $1 Billion In Lost Sales
Amin will be the 30th senior brand manager to leave Pepsico since 2008.
The company, after a years-long list of setbacks, is trying to turn itself around—spending up to $600 million more on marketing and ads — but the company's management suite, under CEO Indra Nooyi, suffers from near-constant musical chairs.
A successor to Amin has not been named.
Pepsi's Americas Beverage unit, which sells the iconic soda, saw a 10 percent operating profit decline to $2.9 billion in 2012, on a 4.5 percent dollar sales decline to $21.4 billion. That's $1 billion less in sales from 2011, the company reported in its 10-K. The reduction was due in part to a discontinued Mexican business but it included sales declines in North America and in its flagship soda business. (The company, which also has various food divisions, reported an overall sales decline of 1.5 percent to $65.5 billion in 2012.)
Amin had been with the company 18 years, Ad Age noted, but got the top job just last May.
Here's our updated list of execs who recently parachuted out of Pepsi.