John Compton, former president of PepsiCo, has joined Clayton Dubilier & Rice as an operating advisor, according to a statement from the firm.
Compton will focus on sustainable growth, operating efficiency and managing talent alongside CD&R’s 10 operating advisors. CD&R’s operating advisors are different from the firm’s full-time operating partners.
During Compton’s 29 years at PepsiCo, he worked on marketing, sales, manufacturing and general management experience.
“[Compton] is an inspirational and results-oriented leader, well-rounded in all business functions with deep experience managing complexity and consumer oriented enterprises,” Donald Gogel, CD&R chairman and chief executive officer said in a statement.
Compton’s career at the world’s second largest food and beverage company began in 1983 when he joined Frito-Lay. He became chief executive officer of PepsiCo Americas Foods, which includes Frito-Lay North America and Quaker Oats brands. He became president of broader PepsiCo in 2011.
Compton, a CD&R operating advisor
Compton isn’t the first PepsiCo executive to enter the private equity industry. Former chief executive of PepsiCo’s Western European business, Charles Bouaziz, joined French buyout group PAI as a partner in 2011 and last October, CVC Capital Partners appointed PepsiCo director James Schiro to its US and global financial institutional advisory board.
CD&R has managed more than $18 billion across 56 investments since it was founded in 1978. The New York and London-based firm is fundraising for its ninth fund, which is targeting $5 billion. It had collected about $2.65 billion from investors as of August. The fund will also include a $250 million general partner commitment and is expected to close in early 2014.
CD&R declined to comment.