OTHER NEWS - July 3, 1996

Pepsi-Cola CEO Resigns: Chief Executive Christopher A. Sinclair abruptly quit just three months after taking control of the $11-billion beverage unit of PepsiCo Inc. Sinclair was replaced by Craig E. Weatherup, who had been president of PepsiCo since April. In a letter to employees, Sinclair, a 14-year veteran of the Purchase, N.Y.-based company, said that the “intensity of the challenge and the frequency of the travel, coupled with the recent broadening of my responsibilities, have exacted a price, not only on me but on my family.” Sinclair, 45, in April took over as chairman and chief executive of the newly created Pepsi-Cola Co., which includes the domestic and international beverage businesses. His resignation is effective immediately.