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Paul Finney Named President and CEO of Pepsi Bottling Ventures

RALEIGH, NC, JANUARY 1, 2012 — Pepsi Bottling Ventures (PBV), LLC, a joint venture between Suntory International and PepsiCo, today said that Paul Finney has been named its President and Chief Executive Officer. He succeeds Keith Reimer, who retired on December 31st, 2011. Finney had served as PBV’s Senior Vice President, Sales & Marketing since 2006.

"Paul is an immensely talented and versatile executive with proven know-how in running a large sales organization, motivating people and exceeding customer expectations," said Tsuyoshi Nishizaki, President and CEO of Suntory International. "In addition to his knowledge of PepsiCo’s bottling system and the diverse retail channels it serves, we are truly fortunate to have an executive of Paul’s vast skills and experience taking the reins and steering PBV’s strategic direction. While thanking Keith Reimer for his great contributions over the years, we anticipate a seamless leadership transition from Keith to Paul and we look forward to continued momentum in the marketplace."

"Paul has a clear appreciation of and respect for both the bottling and franchise sides of the beverage business," said Al Carey, CEO of PepsiCo Americas Beverages. "He truly understands the interdependence of our partnership and is well suited to help us drive ongoing growth together."

During Finney’s six years with PBV, revenue has increased 41% and PBV has expanded its footprint from five to eight states.

Prior to joining PBV, Finney spent 17 years with Pepsi-Cola North America in a variety of roles including Vice President of Sales at SoBe and Vice President/General Manager in a variety of locations including Southern California, Texas, and New York. Before joining Pepsi, Finney worked for the Nestle Corporation.

Founded in 1943, PBV is the largest privately held bottler and distributor of Pepsi-Cola products in North America. PBV operates 27 bottling and distribution facilities, serving over nine million consumers in parts of North Carolina, New York, Maryland, Virginia, Delaware, Vermont, Idaho and South Carolina.

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