PepsiCo announced today that it has reorganized its business into 3 units: PepsiCo Americas Foods, PepsiCo Americas Beverages, and PepsiCo International. The 2 American units represent about three-quarters of the company's sales. Previously, the firm operated in just 2 divisions, one domestic and one international.

Chief Executive Indra Nooyi said, Given PepsiCo's robust growth in recent years, we are approaching a size which we can better manage as three units instead of two. Nooyi also noted that the reorganization allows us to better share best practices among our North America and international businesses, while providing valuable development opportunities for our senior executives.

Among those opportunities is a promotion for current executive VP of operations Hugh Johnston, who will move on to become president of Pepsi-Cola North America. Johnston, and 18-year veteran with the firm, will succeed Dawn Hudson. Hudson is departing Pepsi to pursue career opportunities outside the company.

The shares of PepsiCo have marched steadily higher since late 2004, taking advantage of support from their 10-week and 40-week moving averages to aid in their ascent. However, short sellers have begun to flock to PEP short interest on the stock increased by more than 4% during the most recent reporting period, pushing the equity's short-interest ratio to 2.1 days to cover.