PURCHASE, N.Y., March 23 /PRNewswire-FirstCall/ -- PepsiCo, Inc. announced that its Board of Directors has approved an advisory shareholder vote on executive compensation that will first occur at the company's annual meeting in 2011.

Under the plan, PepsiCo's shareholders will be able to cast an advisory vote on the overall executive compensation policies and procedures employed by the compensation committee for PepsiCo's named executive officers.

Hye-Won Choi, head of corporate governance for TIAA-CREF, said: "We applaud PepsiCo for enabling investors to provide feedback on its compensation programs through an advisory vote, which we feel will increase dialogue and further align the long-term interests of the company and its shareholders.  This further strengthens PepsiCo's leadership position in corporate governance."

About PepsiCo

PepsiCo offers the world's largest portfolio of billion-dollar food and beverage brands, including 19 different product lines that each generates more than $1 billion in annual retail sales. Our main businesses -- Frito-Lay, Quaker, Pepsi-Cola, Tropicana and Gatorade -- also make hundreds of other nourishing, tasty foods and drinks that bring joy to our consumers in more than 200 countries. With annualized revenues of nearly $60 billion, PepsiCo's people are united by our unique commitment to sustainable growth, called Performance with Purpose. By dedicating ourselves to offering a broad array of choices for healthy, convenient and fun nourishment, reducing our environmental impact, and fostering a diverse and inclusive workplace culture, PepsiCo balances strong financial returns with giving back to our communities worldwide. In recognition of its continued sustainability efforts, PepsiCo was named for the third time to the Dow Jones Sustainability World Index (DJSI World) and for the fourth time to the Dow Jones Sustainability North America Index (DJSI North America) in 2009. For more information, please visit www.pepsico.com.

SOURCE PepsiCo, Inc.