PepsiCo Marketing Executive Quits

PepsiCo Inc.’s chief marketing executive in its beverage business resigned, according to a company memo sent to employees and bottlers. The executive, Brian Swette, 44, had approved the creation of Pepsi’s “Generation Next” campaign, which has drawn complaints from bottlers. The ads, featuring skydiving and a teenager with pierced nose, ears and eyelids, are designed as a contemporary version of the “Pepsi Generation” spots 30 years ago. Philip Marineau, head of PepsiCo’s North American beverage business, has contended the ads don’t appeal to a broad range of Pepsi drinkers, analysts said. Swette’s departure had been speculated for months. Pepsi said its beverage marketing will be overseen by a council that includes Marineau, who joined the company in September from Quaker Oats Co.; Peter Thompson, president of Pepsi-Cola International; and Craig Weatherup, Pepsi-Cola’s chairman and chief executive. In the first quarter, Pepsi’s domestic sales rose 2.5%, compared with rival Coca-Cola Co.’s sales gain of more than 5%. Pepsi’s shares rose 31 cents to close at $36.69 on the NYSE.