The official website of Universal Corporation has announced that Arthur J. Schick, Jr., former Vice President of Proprietary Flavorings at PepsiCo's beverage concentrate division, has been appointed to the company's board of directors. The appointment will take effect on April 1, 2023, and expand the board's size to nine members. Schick will assist the company in expanding its "plant-based ingredients platform.
In response, George C. Freeman, Chairman and CEO of Universal Corporation, stated, "Arthur is an experienced and respected global executive in consumer goods with a deep understanding of the food and beverage industry, as well as a strong professional knowledge and awareness of the ingredient industry from top to bottom. As we continue to develop our plant-based raw material business, his extensive experience in the raw material and value-added supplier field is a tremendous and valuable addition to our board.
I am excited about the potential for significant growth as the company expands its plant-based ingredient platform.
PepsiCo is a publicly traded global leader in the food and beverage industry with a value of $79 billion.
The headquarters of the global tobacco company is located in Virginia, USA. According to its official website's financial report, the company's total revenue in 2022 was 2.38 billion US dollars (approximately 16.1 billion yuan).
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