India, Sept. 2 -- PepsiCo is facing intensifying pressure after activist investor Elliott Management disclosed a $4 billion stake in the company, calling for sweeping changes to revive growth.
The move comes as the soft drink maker slips further behind Coca-Cola and even Dr Pepper in the U.S. soda market, sparking concerns over its long-term competitiveness.
In a letter to PepsiCo's board, Elliott warned that the company has reached "a critical inflection point" and urged leadership to streamline operations, shed underperforming brands, and consider refranchising its bottling network, a strategy that Coca-Cola has successfully pursued.
The firm argued PepsiCo's struggles are "self-inflicted," citing both its declining beverage sales and ...