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PepsiCo and its involvement in the international community This executive summary examines the "accounting irregularities" and the results of the 1982 accounting scandal involving the Mexican and Philippine bottling operations.

PepsiCo, Inc. is founded by Donald M. Kendall, president and chief executive officer of Pepsi-Cola and Herman W. Lay, chairman and chief executive officer of Frito-Lay, through the merger of the two companies. Pepsi-Cola was created in the late 1890s by Caleb Bradham, a New Bern, N.C. pharmacist. Frito-Lay, Inc. was formed by the 1961 merger of the Frito Company, founded by Elmer Doolin in 1932, and the H. W. Lay Company, founded by Herman W. Lay, also in 1932. Herman Lay is chairman of the Board of Directors of the new company; Donald M. Kendall is president and chief executive officer. The new company reports sales of $510 million and has 19,000 employees.

PepsiCo, Inc. serves consumers in two major businesses: beverages and snack foods.

The company consists of Pepsi-Cola Company, the world's second largest beverage company, Tropicana Products, Inc. the world's largest marketer and producer of branded juices and Frito-Lay Company, the world's largest manufacturer and distributor of snack chips. PepsiCo brand names are among the best known and our operations reach every corner of the world.

Outside the United States, Pepsi-Cola soft drink operations include the business of Seven-Up International. Pepsi-Cola beverages are available in about 160 countries and territories.

Pepsi-Cola began selling its products internationally in 1934 with its operations in Canada. Operations grew rapidly beginning in the 1950s. In addition to brands marketed in the United States, major products include Mirinda and Pepsi Max. Pepsi-Cola North America includes the United States and Canada. Key international markets include Argentina, Brazil, China, India, Mexico, Philippines, Saudi Arabia, Spain, Thailand and the United Kingdom. PepsiCo Beverages International...