BOSTON, Feb 19 (Reuters) - Money manager Legg Mason Inc , which oversees $679 billion in assets, elected John Cahill, a former chief executive of Pepsi Bottling Group Inc , a member of its board, the company said on Friday.
Cahill will replace Roger Schipke, 73, who is retiring at the company's annual meeting in July.
Cahill, now a partner at private equity firm Ripplewood Holdings, spent 18 years at PepsiCo Inc and Pepsi Bottling. He was chairman of Pepsi Bottling from 2002-2007 and was chief executive officer from 2001-2006.
'John Cahill has deep experience as CEO of a global public company with operations around the world,' Legg Mason's CEO Mark Fetting said in a statement. 'Under his leadership, the Pepsi Bottling Group significantly improved its marketplace effectiveness, financial performance and management talent across the organization. His experience will be invaluable to the Board as we continue to grow our business across major financial markets,' Fetting said.
Legg Mason expanded its board to 14 from 13 in October 2009 to include activist hedge fund investor Nelson Peltz.
(Reporting by Svea Herbst-Bayliss, editing by Gerald E. McCormick) Keywords: LEGGMASON/BOARDMEMBER (Svea.Herbst@Reuters.com; +1 617 856 4331; Reuters Messaging: svea.herbst.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Cahill will replace Roger Schipke, 73, who is retiring at the company's annual meeting in July.
Cahill, now a partner at private equity firm Ripplewood Holdings, spent 18 years at PepsiCo Inc and Pepsi Bottling. He was chairman of Pepsi Bottling from 2002-2007 and was chief executive officer from 2001-2006.
'John Cahill has deep experience as CEO of a global public company with operations around the world,' Legg Mason's CEO Mark Fetting said in a statement. 'Under his leadership, the Pepsi Bottling Group significantly improved its marketplace effectiveness, financial performance and management talent across the organization. His experience will be invaluable to the Board as we continue to grow our business across major financial markets,' Fetting said.
Legg Mason expanded its board to 14 from 13 in October 2009 to include activist hedge fund investor Nelson Peltz.
(Reporting by Svea Herbst-Bayliss, editing by Gerald E. McCormick) Keywords: LEGGMASON/BOARDMEMBER (Svea.Herbst@Reuters.com; +1 617 856 4331; Reuters Messaging: svea.herbst.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
© 2010 AFX News
