PURCHASE, NY: PepsiCo appointed Timothy P. Cost to the newly created position of EVP, global corporate affairs, effective December 1.
Cost, who will report to PepsiCo chairman and CEO Indra Nooyi, will be responsible for strengthening and protecting PepsiCo's corporate reputation and aligning its communications, public policy, foundation, investor relations, global health and agricultural policy, and regulatory agendas.
Nooyi explained in a press release that he will take a holistic view of the company's external relations to forge relationships consistent with the global commitment to its Performance with Purpose philosophy.
The company confirmed that Julie Hamp, CCO and SVP of global communications and consumer relations, will report to Cost but hold onto her CCO title. Her responsibilities will remain the same.
"Companies like PepsiCo... are unifying functions that need to work in a more aligned basis internally to reach common stakeholder groups," said Hamp. "These are functions like communications, consumer relations, our foundation, public policy, and, in our case, health and agricultural policy and investor relations."
She added that Cost was appealing for the role with his healthcare, investor relations, and public policy background, as well as his "not as readily apparent M&A background"- he served in senior-level communications roles at a number of organizations that have been acquired, such as Wyeth, Centocor, and Pharmacia.
"He has knowledge of the [healthcare] issues," said Hamp. "It's another proof point in our statement to grow the nutrition side of the business from 10 to 30 billion dollars over the next ten years."
This June, Cost joined APCO Worldwide as EVP and head of the healthcare practice, leaving Wyeth where he served as SVP, corporate affairs. Earlier in his career he was EVP, corporate affairs at ARAMARK and SVP, corporate affairs at Pharmacia Corporation. He also spent six years at Bristol-Myers Squibb, leading investor relations and competitive intelligence activities. He was also SVP, communications and strategy, for biotechnology company Centocor, Inc., which is now part of Johnson & Johnson. He began his career at Eastman Kodak Company working in marketing, strategic planning, communication, and investor relations.
Over the past year, PepsiCo has hired 15 people in its communications department, including Nancy Lintner who joined in August as SVP of strategic communications. She reports to Hamp.
APCO MD Robert Schooling said that while the agency conducts an internal and external search to replace Cost, he'll step back into his role as global chair of the healthcare practice.