PepsiCo will install a 34-year company veteran in the newly created post of president of multicultural business and equity development.
Derek Lewis has been promoted from president of PepsiCo Beverages North America's South Division to lead the new Multicultural Business and Equity Development Organization. The new unit will be charged generally with addressing “inequalities for historically excluded people and underserved businesses and communities,” according to a company statement.
The new unit will have both a business and an equity focus. The business focus will pertain to matters including retailer business development in multicultural communities; use of diverse suppliers and partners; and increasing consumer awareness and sales across “multicultural cohorts.” Imperatives on the equity side will include enhancing Pepsi Stronger Together, a community engagement program, and generally elevating PepsiCo’s efforts to be “an employer of choice for diverse cohorts.”
"To take the next step in its Racial Equality Journey, PepsiCo is calling on one of its top executives to lead an organization embedded in the company's two largest businesses with a focus on providing new educational opportunities, building up small businesses and creating rewarding job opportunities in an effort to support underserved businesses and communities," said Kirk Tanner, CEO, PepsiCo Beverages North America.