Pepsi Brings Fed's Fisher On Board
PepsiCo Inc. (NYSE: PEP) announced on Monday that it had added Dallas Federal Reserve President Richard Fisher it its board.
Fisher stepped down from his position at the Fed just four days prior and is well known for being an outspoken member of the U.S. central bank who pushed for the bank's reform and was very vocal against accommodative policy measures.
Pepsi Leadership Gains Experience
Fisher brings to the table a great deal of global experience and could be a welcome asset to Pepsi's leadership. CNBC's Jim Cramer said Monday that the move was a strategic one designed to "provoke discussion."
Pepsi CEO Indra Nooyi said Fisher's knowledge of international trade and regulatory law will help the company move forward in the year to come.
Pepsi Has Been Struggling
PepsiCo has been in the spotlight recently as the company has been working to overcome negative press regarding America's obesity epidemic. A push toward healthy eating and an increase in the desire for more natural food and drink has weighed on some of Pepsi's flagship products.
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Earlier this year, the company was engaged in a heated battle with activist investor Nelson Peltz, who called for the company to spin off its Frito-Lay snack business.
Peltz argued that splitting snacks from the beverage division would allow for more targeted marketing as well as cost cutting, but Pepsi rejected the proposal.
Following the news of Fisher's appointment, shares of PepsiCo gained 0.53 percent as investors responded favorably to the addition.
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