PepsiCo taking more time to review its business

Reuters

PepsiCo

"As we have been working through our planning for 2012, we have decided that it is appropriate to extend our ongoing review," Chairman and Chief Executive Indra Nooyi said in a brief statement. "We look forward to providing an update to investors, which will include 2012 guidance, early next year."

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When it released third-quarter results on October 12, PepsiCo declined to give any specifics regarding its 2012 outlook, saying it was still too early, given the current volatility in financial markets and global economies. PepsiCo also said at that time that it had considered breaking up the company and did not find that to be in the best interest of its shareholders.

(Reporting by Jessica Wohl in Chicago, editing by Gerald E. McCormick)