Pepsi 2010 Annual Report Download - page 26

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Performance
Corporate Governance and Values
25
total cash returned to shareholders was
$29billion. While delivering top-
quartile returns remains a goal we
continue to strive for, we’re proud that
we delivered above-average total
shareholder returns among the top
15 global consumer product companies
in 2010, as well as in six of the last
10years.
8
Utilize a robust corporate
governance structure to best
represent the interests of
PepsiCo and its shareholders.
PepsiCo maintains the highest stan-
dards of corporate governance, sup-
ported and monitored by a diverse and
annually elected Board of Directors,
and widely recognized by proxy advi-
sory firms such as Institutional
Shareholder Services (ISS) and
GovernanceMetrics International
(GMI). In 2010, Ethisphere magazine
rated PepsiCo one of the world’s most
ethical companies. And again in 2010,
we were included in the Dow Jones
Sustainability Indexes (DJSI World
and DJSI North America) with a “best
in class” score for corporate gover-
nance in our industry group. We con-
tinue to achieve this level of success
because we not only operate with strict
corporate standards, but also track
accountability and train our associates
in our Worldwide Code of Conduct.
9
Ensure our PepsiCo
value commitment to
deliver sustained
growth through
empowered people
acting with responsibility
and building trust.
With clear values at the core of
PepsiCo’s culture, empowered associ-
ates have the guidance they need to act
and work responsibly. We have rein-
forced the importance of our values
through training, annual Code of
Conduct certification and our new-hire
orientation processes. In our 2006
Organizational Health Survey we began
measuring how well our values are
embraced company-wide and have
received very positive ratings. In our last
all-employee survey in 2009, we again
received very favorable ratings in all
levels of the company, from the front line
to senior executives. The aggregate global
score from employees regarding our
commitment to living our values was
82percent favorable, a rating we continu-
ally strive to increase. In 2011, as part
ofour biannual survey process, we will
once again seek feedback on our commit-
ment to our values from our associates,
including those from our recently
acquired bottling organizations. (*)
(*) See page 19.