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Former Dallas Fed CEO Joins Pepsi Board

/ CBS Texas

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NEW YORK (AP) - PepsiCo Co.'s board of directors elected Richard W. Fisher, former CEO of the Federal Reserve Bank of Dallas, as a member of the Pepsi board.

Fisher served as president and CEO of the Federal Reserve Bank of Dallas from 2005 to March 2015, and as a Deputy U.S. Trade Representative from 1997 to 2001.

The Purchase, New York-based food and beverage company said Fisher joins the board effective Monday.

Also effective Monday is the addition of William R. Johnson to the board. The former chairman and CEO of H.J. Heinz is an advisory partner to activist investor Nelson Peltz's Trian Fund Management. Peltz had recommended the move and has been calling for PepsiCo to separate its drinks division from its snacks unit.

(© Copyright 2015 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

© 2015 CBS Broadcasting Inc. All Rights Reserved.

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