People on the Move: Derek Hill, New CEO of Pepsi Bottling Ventures LLC

Pepsi Bottling Ventures LLC, the Raleigh, N.C.-based privately held manufacturer, seller and distributor of PepsiCo-branded products, has announced the retirement of Paul Finney. He served as President and CEO of the organization from 2012 to 2021. In Finney’s place, the new CEO will be Derek Hill, who has worked for more than 30 years within the Pepsi System.

In a statement following the announcement of his appointment, Hill said of his predecessor: “Paul has strategically positioned PBV into the industry-leading bottling company that it is today. He is highly admired and will be greatly missed.”

He also added that “PBV prides itself as a top bottler and distributor of some of the most recognizable consumer beverage products in the world. I am honored to accept the role of President and CEO and look forward to many great years of continued success for our business, our customers, and consumers.”

Hill joined Pepsi Bottling Ventures in 2000 as the company’s Vice President of Corporate Planning. In 2008, he was promoted to the role of Chief Financial Officer — a move that the company said helped lead “PBV to record-breaking profits.” Hill also helmed several major mergers and acquisitions in his time as CFO, further expanding PBV’s distribution territory and sales footprint.

Speaking for Suntory Beverage & Food, Ltd., President and CEO Kazuhiro Saito said: “We are very excited to welcome Derek as the new President and CEO of Pepsi Bottling Venture. He is an immense talent with a strategic vision, and I’m confident that the leadership transition will be seamless. Together, we will continue to drive PBV’s business forward.”

Kirk Tanner, CEO of PepsiCo Beverages North America, added: “With Derek in his new role, we have a strong leader and trusted partner with world-class knowledge of the PepsiCo bottling business. He will help us take our relationship to even greater heights, and we look forward to continued success together in the future.”

Pepsi Bottling Ventures is a joint venture between the Suntory Group and PepsiCo (a DiversityInc Noteworthy Company in 2021). The company has 19 locations across North Carolina, South Carolina, Maryland and Delaware; employs over 2,600 employees; and bottles and distributes many of the most popular drink brands in the country, including Pepsi-Cola, Dr. Pepper, Starbucks, Lipton Teas, Gatorade, Cheerwine, Orangina, Nature’s Twist, Twisted Punch, and Sparkling OH!


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