Derek Lewis Named First President of PepsiCo’s New Multicultural Business and Equity Development Organization

Soft-drink giant PepsiCo has announced it will create a new North American organization dedicated to accelerating efforts to help address inequalities for historically underserved businesses and communities.

It is part of PepsiCo’s racial equity initiative announced in 2020 that will invest $570 million over five years to increase Black and Hispanic representation and create more financial opportunities for both.

The new Multicultural Business and Equity Development Organization will be led by Derek Lewis, the first president of PepsiCo’s Multicultural Business and Equity Development. Lewis has been with the soft-drink company for more than three decades, and in his new role, he will address end-to-end business inequalities.

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SOURCE: Black Enterprise, Derek Major