Pepsi and Beckham Finish the Relationship

PepsiCo Inc said it is ending its endorsement relationship with English soccer star David Beckham after 10 years in a move described as mutual by both sides.

 Terms of Beckham's deal were not
disclosed, but Britain's Daily Mail newspaper said the contract was
worth 2 million pounds a year. Beckham touted Pepsi in commercials
over the years dressed as a cowboy, a surfer and a gladiator.
In
October, Pepsi, which makes Pepsi-Cola drinks, Frito-Lay snacks and
Quaker foods, posted a weaker-than-expected third-quarter profit and
cut its full-year outlook, underscoring the impact of the economic
slowdown on beverage sales, especially of bottled water.
It also
said at that time it would cut 3,300 jobs, or about 1.8 percent of
its work force, as part of a plan to save more than $1.2 billion over
three years.