PepsiCo reaches truce with billionaire investor Nelson Peltz

New York

NEARLY two years of public sabre-rattling between PepsiCo and the billionaire investor Nelson Peltz appeared to end, as the two announced a truce of sorts.

The food giant said on Friday it would add William Johnson, the former chief executive of HJ Heinz, to its board. Mr Johnson will serve as an emissary of Mr Peltz's investment firm, Trian Fund Management.