DirecTV Group Inc., which may be spun off this week from Liberty Media Corp., said Wednesday that Pepsico International Chief Executive Michael White will become its CEO on Jan. 1.
White, 57, replaces Chase Carey, who left the El Segundo satellite TV provider earlier this year to become Rupert Murdoch’s No. 2 man at News Corp. White, also Pepsico vice-chairman, had planned to retire later this year from running PepsiCo’s international operations.
White joined PepsiCo in 1990 and has held various management positions, including chief financial officer. White also helped engineer acquisitions, including pending agreements to acquire the company’s two largest bottlers, the Pepsi Bottling Group and PepsiAmericas. Prior to PepsiCo, he worked for cosmetics company Avon Products Inc. and consultancies Bain & Co. and Anderson & Co.
Liberty Media Corp., which holds a controlling stake in DirecTV, is scheduled to hold a special shareholders meeting Thursday to vote on spinning off DirecTV and other Liberty entertainment assets into a separate company to be called DirecTV Inc. If approved, Liberty Chairman John Malone would own a 3 percent stake in the new company but control 24 percent of the vote.
Since Carey’s departure, DirecTV has been run for the last six months by interim CEO Larry Hunter.
DirecTV shares closed up 11 cents, or less than 1 percent, to $31.04 on the Nasdaq.