Strategy

PepsiCo's Board of Directors elects Chief Executive Indra K. Nooyi to succeed Steven S. Reinemund as chairman when he retires in May 2007.

To drive global growth and market leadership of the Nike and affiliate brands, Nike Inc. announces plans to focus on creating premium consumer experiences built on product innovation, brand leadership and an elevated retail presence.

Liz Claiborne Inc. announces that Tim Gunn will join the company as chief creative officer, effective March 5, 2007.

Linx/AS LLC, a product lifecycle management (PLM) consulting firm and partner in the SAP industry value network (IVN), announced the formal kick-off of its vertical influence partner (VIP) program for Intellectual Property Manager (IPM) version 1.0.

Tommy Hilfiger Retail LLC, a wholly-owned subsidiary of Tommy Hilfiger Corporation forms a strategic partnership with Fulfillment Technologies LLC (FillTek), a full-service provider of order fulfillment, customer care and information technology services, to support Tommy Hilfiger's eCommerce Sales at www.shoptommy.com

Coca-Cola is reorganizing its marketing department to report to newly appointed COO Muhtar Kent. Mary Minnick, the head of the company's marketing, strategy and innovation division, will leave at the end of next month to pursue opportunities in the U.K. and will not be replaced.

As part of immediate initiative to drive improved performance, position Pfizer for future success and enhance total shareholder return its cost reduction initiatives, 10,000 positions (about 10 percent of Pfizer's total worldwide workforce) will be eliminated by the end of next year.

Henkel, the maker of brands like Dial, Loctite, Purex, Dep and Duck brand, launched the "Henkel Innovation Trophy" competition, which invites all independent inventors to submit their creative ideas for an opportunity to be reviewed and evaluated by Henkel