Michael White – the chief executive and vice chairman of PepsiCo International, in charge of all PepsiCo's operations outside the US and Canada – is to retire later this year.

White is a PepsiCo veteran, having worked at the soft drinks giant for more than 20 years. He has been CEO since 2003 and has previously held positions including chief financial officer of Frito-Lay North America.

Zein Abdulla will take over as head of PepsiCo Europe, with Saad Abdul-Latif stepping up to become CEO of PepsiCo Asia, Middle East & Africa.

"Close to a year ago, Mike shared with me his interest in eventually moving on to 'the next chapter' of his life," said PepsiCo boss Indra Nooyi. "It would be difficult to overstate his contribution to PepsiCo over two decades.”