date:Feb 28, 2014
PepsiCo Inc said its board again rejected activist investor Nelson Peltz's renewed call to split the company's beverage business from its flourishing snacks division.
Ian Cook, presiding director of the company's board, in a letter to Peltz on Thursday said the board and management were comfortable and in complete alignment in rejecting his proposal.
Cook said PepsiCo had analyzed the company's current structure and its beverage business and concluded that it was better off as a combined food