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Home » Purpose » Performance with Purpose » Letter from Indra Nooyi

Letter from Indra Nooyi

Dear Fellow Stakeholders,

In 2009, PepsiCo made a promise. For the next 10 years, we promised to deliver sustainable growth by investing in a healthier future for our consumers, our planet, our associates and external partners and the communities we serve.

This promise is the cornerstone of our 'Performance with Purpose' mission: our belief that our financial success Performance must go hand-in-hand with our social and environmental responsibilities our Purpose. We call this 'The Promise of PepsiCo', a manifesto that includes ambitious global goals 47 commitments in all that will guide our company this decade.

As the world's second-largest food and beverage business, we have a responsibility to help devise solutions to key global challenges where we can have the most impact. We categorize these responsibilities in three distinct areas: Human Sustainability addressing diverse and complex global nutrition needs; Environmental Sustainability being a good steward of our planet's natural resources; and Talent Sustainability creating meaningful employment opportunities in the communities where we operate and developing our associates while fostering a diverse and inclusive workplace.

Our strategy for long-term growth is an integral part of our 'Performance with Purpose' mission. In fact, we design our business plans to ensure that the work we do and the investments we make have a positive impact on society that's why our 2009 corporate citizenship report is titled Performance with Purpose: Investing in Sustainable Growth.

Challenging economic times are still ahead, but we will not reduce our commitment to responsible business, and we are taking action to ensure sustainable, profitable growth across all our businesses. Despite many challenges, we see enormous opportunity for continued growth.

One way is through the game-changing merger transaction with our two anchor bottlers. This merger allows us to create a lean, agile organization with an optimized supply chain, a flexible go-to-market system and enhanced innovation capabilities. Another critical path to growth is to continue to expand our R&D capabilities and increase investments to develop more nutritious products that taste great and add positive nutrition such as fiber, vitamins and calcium, among other benefits.

Our 'Performance with Purpose' mission guides the way we conduct ourselves as we continue to seek valuable counsel from key external stakeholders like Ceres, the Carbon Trust and global experts in the nutrition, science and global health policy communities. Together, these actions will help us maintain our long-term commitment to the overall sustainability of our company.

Human Sustainability

As the world's nutrition needs continue to evolve, we are committed to encouraging people to live healthier by offering a portfolio of both enjoyable and wholesome foods and beverages. We're adding more whole grains, nuts, fruits and vegetables while reducing added sugars, lowering sodium and saturated fat levels and moving to heart-healthier oils and natural sweeteners. We're also embarking on many initiatives to improve calorie labeling, support nutrition education, bring physical education to schools and feed malnourished people in lower-income communities. Our R&D investment has increased by more than 40 percent over three years, helping us step across industry boundaries to address core challenges to make our products more nutritious.

Environmental Sustainability

While we continue to make great strides on our portfolio transformation, we are also committed to improving the environmental profile of our operations worldwide. Most recently, we opened a facility in Chongqing, China, that is designed to use 22 percent less water and 23 percent less energy than our existing in-country facilities. In the U.S., our Frito-Lay business developed a fully compostable bag for our SunChips multigrain snacks, and the facility in Arizona that produces these snacks just received the Environmental Contribution of the Year award at the 2010 Global Water Awards. One of our goals is to achieve positive water balance across all our businesses. For every liter we use, we intend to return one to the Earth. Sound impossible? We already did it across our India beverage operations. And India is just one step in our journey.

Talent Sustainability

Another crucial element of our promise is our commitment to invest in our associates so they can succeed and develop the skills needed to drive our sustainable growth. To advance these imperatives, we have made our training and development regimen more robust, providing additional experiential learning to build leadership skills and functional capabilities across our businesses. Our efforts have earned external recognition in key talent and workplace rankings, including Fortune magazine's 'Top Companies for Leaders' list in 2009. We also remain committed to strengthening a diverse, inclusive and empowering workplace culture in which all our associates can thrive while helping to raise standards of living in the communities in which we operate. We are proud of the progress we continue to make, including increasing the number of women in management globally, reducing diversity turnover and creating thousands of new jobs in growing markets.

Conclusion

We've made significant progress toward sustainable growth over the past several years, and as we continue to carry out our 'Performance with Purpose' mission, we are poised to deliver on the 'Promise of PepsiCo'. I look forward to a continued legacy of solid performance, and I'm confident our focus on sustainable growth will go a long way to assuring PepsiCo thrives for decades to come.

Indra K. Nooyi
Chairman and Chief Executive Officer