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10 PepsiCo, Inc. 2010 Annual Report
Letter to Shareholders
product made with an all-natural,
zero-calorie sweetener, was a direct
result of that investment — the SoBe
Lifewater brand grew volume 46per-
cent in 2010 alone. Similarly, our
technology investments allowed us to
reduce sodium levels in some of our
salty snacks without compromising
taste and to use 100percent recycled
PET in our Naked Juicebottles.
We increased our investment in
emerging markets’ selling and deliv-
ery systems by putting more coolers
in the market and adding route
and distribution capacity ahead of
growth in India, China, Russia
and other countries.
In 2010, we also increased our
empha sis on our people — from
leadership development to rota-
tional assignments to experiential
learning programs. Our people set
us apart and attracting, retaining,
retraining and developing them
remain our biggest advantages and
continuingchallenges.
Performance with Purpose
In addition to sustainable financial
performance, we made major
strides in our Performance with
Purposejourney.
Four years ago, we recognized that
the environment was changing:
increasingly, focus was shifting from
corporate capabilities to include
corporate character. A new under-
standing took shape: that ethics
and growth are not just linked, but
inseparable; a belief long treasured
byPepsiCo.
Performance with Purpose means
delivering sustainable growth by
investing in a healthier future for
people and our planet. Performance
has always been the lifeblood of
PepsiCo, and we remain committed
to delivering top-tier financial
returns. But we went a step further.
We laid out additional short- and
long-term goals for ourselves that
included metrics related to our per-
formance in the eyes of our retail
partners, our consumers and, of
course, our investors. Importantly,
this is not at the cost of creating value
for shareholders. It is the source of
thatvalue.
It’s all about bringing our company
performance and our social and envi-
ronmental commitmentstogether.
We set a series of long-term targets,
but ensured that they also supported
our short-term needs. Our business
and our ethics are intertwined, and
that is an enormous source of
pride for everyone at PepsiCo. So
let me explain the three Purpose
planks that lead to outstanding per-
formance: Human, Environmental,
and Talentsustainability.
Human Sustainability
Human sustainability is our promise
to encourage people to live balanced
and healthy lives. It’s about oering
balance in our portfolio for consum-
ers to have a range of enjoyable and
wholesome foods and beverages. It’s
about providing people with choices,
attractive options to manage their
portions, better nutrition education
and compelling programs to encour-
age physicalactivity.
But the key is choice. By expanding
our portfolio, we are making sure our
consumers can treat themselves
when they want enjoyable products,
but are able to buy a range of appetiz-
ing and healthier snacks when they
are beinghealth-conscious.
“ We are performing
today to deliver
top-tier financial
performance,
while investing to
ensure that our
performance
levels can be
sustained in the
long term.”