Pepsi Bottling Ventures LLC Names New President and Chief Executive Officer
RALEIGH, N.C., Jan. 10, 2022 /PRNewswire/ -- Pepsi Bottling Ventures LLC (PBV), a joint venture of Suntory Group and PepsiCo, today announced that Derek Hill has been named president and chief executive officer (CEO). The announcement follows the retirement of Paul Finney, who served as president and CEO from 2012 – 2021.
“Paul has strategically positioned PBV into the industry-leading bottling company that it is today. He is highly admired and will be greatly missed,” said Hill. “PBV prides itself as a top bottler and distributor of some of the most recognizable consumer beverage products in the world. I am honored to accept the role of president and CEO and look forward to many great years of continued success for our business, our customers, and consumers.”
Hill has spent his 30-year career in the Pepsi System. He joined PBV in 2000 as vice president of corporate planning before assuming the role of chief financial officer (CFO) in 2008. As CFO, Hill led PBV to record-breaking profits and strategically managed a series of mergers and acquisitions that expanded the company’s distribution territory and sales footprint.
“We are very excited to welcome Derek as the new president and CEO of Pepsi Bottling Ventures,” said Kazuhiro Saito, president & CEO, Suntory Beverage & Food, Ltd. “He is an immense talent with a strategic vision, and I’m confident that the leadership transition will be seamless. Together, we will continue to drive PBV’s business forward.”
“The partnership we’ve had with Paul over the years has been simply outstanding and he has built a high-performance team that plays a significant role in PepsiCo’s success. As he takes on the new adventure of retirement, he leaves a legacy that should stand as a source of great pride and a model for the beverage industry,” said Kirk Tanner, CEO, PepsiCo Beverages North America. “With Derek in his new role, we have a strong leader and trusted partner with world-class knowledge of the PepsiCo bottling business. He will help us take our relationship to even greater heights and we look forward to continued success together in the future.”
Hill officially assumed the role of president & CEO of Pepsi Bottling Ventures LLC on January 1, 2022.
About Pepsi Bottling Ventures LLC
Pepsi Bottling Ventures LLC (PBV) is the largest privately held manufacturer, seller, and distributor of some of the most recognized consumer brands in the world. A joint venture of Suntory Group and PepsiCo, PBV’s portfolio includes Pepsi-Cola, Dr. Pepper, Starbucks, Lipton Teas, Gatorade, Cheerwine, Orangina, and more. Additionally, PBV-owned brands, including Nature’s Twist, Twisted Punch, and Sparkling OH! are distributed to 48 states and Canada through its subsidiary, Ventures Food & Beverage. Headquartered in Raleigh, N.C., PBV has 19 locations in North Carolina, South Carolina, Maryland, and Delaware and over 2,600 employees. Learn more at www.pepsibottlingventures.com.
PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $70 billion in net revenue in 2020, driven by a complementary food and beverage portfolio that includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker, Tropicana, and SodaStream. PepsiCo’s product portfolio includes a wide range of enjoyable foods and beverages, including 23 brands that generate more than $1 billion each in estimated annual retail sales. Guiding PepsiCo is our vision to Be the Global Leader in Convenient Foods and Beverages by Winning with Purpose. “Winning with Purpose” reflects our ambition to win sustainably in the marketplace and embed purpose into all aspects of our business strategy and brands. For more information, visit www.pepsico.com.
About Suntory Group
As a global leader in the beverage industry, Suntory Group offers a uniquely diverse portfolio of products from premium spirits, beer and wine to brewed teas, bottled water, carbonated soft drinks, ready-to-drink coffee and energy drinks, along with health and wellness products. Suntory is home to award-winning Japanese whiskies Yamazaki, Hibiki and Hakushu as well as iconic American spirits Jim Beam and Maker’s Mark. Suntory also fascinates the taste buds in Japan and the Asian market with their Premium Malt’s beer, and also owns the exceptional Japanese wine Tomi and the world-famous Château Lagrange. Its brand collection also includes Sauza Tequila, non-alcoholic favorites Orangina, Lucozade, Ribena, BOSS coffee, Iyemon green tea, Suntory Tennensui water, TEA+ Oolong Tea, V Energy Drink, as well as popular health and wellness product Sesamin EX.
Founded as a family-owned business in 1899 in Osaka, Japan, Suntory Group has grown into a global company operating throughout the Americas, Europe, Africa, Asia and Oceania with an annual revenue (excluding excise taxes) of $20.4 billion in 2020. Suntory is driven by “Yatte Minahare” - the spirit of bold ambition - and our 40,044 employees worldwide draw upon our unique blend of Japanese artisanship and global tastes to explore new product categories and markets.
As a company that delivers blessings of water and nature to our customers, Suntory is committed to its mission to create harmony with people and nature. Always aspiring to grow for good, Suntory is devoted to giving back to society through protecting water resources, nurturing its communities and fostering the arts.
Contact: Matthew Kagel
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SOURCE Pepsi Bottling Ventures LLC