Aramark names Neubauer's successor

Taps longtime PepsiCo exec Eric J. Foss.

Aramark has hired former PepsiCo executive Eric J. Foss to succeed Joseph Neubauer as CEO of the foodservices giant, effective immediately. Foss will also hold the title of president. Neubauer, who served as CEO for 29 years, remains chairman of the board.

"Eric Foss is an outstanding leader with extensive experience running global enterprises," Neubauer said in announcing his successor.

Moss formerly served as CEO of the Pepsi Beverages Co., a $20-billion-a-year division of PepsiCo. He spent 30 years in operations that were either part of or partnered with Pepsico.