Purchase, New York 10577-1444
March 23, 2012
Dear Fellow PepsiCo Shareholders:
We are pleased to invite you to attend our 2012 Annual Meeting of Shareholders, which will be held on
Wednesday, May 2, 2012 at 9:00 a.m. Eastern Daylight Time at the North Carolina History Center at Tryon Palace, 529
South Front Street, New Bern, North Carolina 28562. New Bern, North Carolina is the “birthplace” of PepsiCo, and we
are pleased to be returning to this historic place for our 2012 Annual Meeting. For your convenience, we will offer a live
webcast of our Annual Meeting on our website at www.pepsico.com under “Investors”—“Investor Presentations.”
2011 was an important year for PepsiCo. We delivered solid top- and bottom-line growth and made disciplined
investments in the business to generate long-term value. We bolstered our strong leadership team by bringing in external
talent with skills that will help position PepsiCo to perform in a new and changing environment. Alberto Weisser, the
Chairman and Chief Executive Officer of Bunge Limited, a global food, commodity and agribusiness company, joined our
Board of Directors in September 2011. We also added two key executives to our senior team: Enderson Guimaraes, who
was previously executive vice president and chief executive officer of Electrolux’s appliances business in Europe, Africa
and the Middle East, joined us as President of Global Operations, and Maura A. Smith, who was previously general
counsel of International Paper Company, joined us as Executive Vice President, Government Affairs, General Counsel
and Corporate Secretary.
2012 is another critical year for PepsiCo. We are implementing a number of key initiatives to further strengthen
our Company and enhance shareholder value. To support our Company’s growth globally, we have also announced
important changes to our organizational structure, namely that John C. Compton has assumed the role of President,
PepsiCo, and that Brian C. Cornell, who... [continues]
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