PepsiCo Gathers Shareholders In NC Creator's Town

POSTED: 7:20 AM May 02 2012   UPDATED: 7:22 AM May 02 2012
NEW BERN -

Beverage giant PepsiCo is holding its annual shareholders meeting in the coastal North Carolina city where a local druggist created its namesake soft drink more than a century ago.

The corporation's business meeting is Wednesday in New Bern. That's where local druggist Caleb Bradham invented Pepsi-Cola and named it for its ingredients of pepsin and cola nuts. Bradham lost the company in bankruptcy after World War I and its assets were bought by a Wall Street broker.

The New York-area company's meeting will see PepsiCo shareholders vote on executive compensation and the board of directors. Another vote considers whether PepsiCo should disclose where it spends millions on lobbying efforts.

Gov. Beverly Perdue's spokesman says she invited PepsiCo to her hometown during a 2009 meeting with the CEO.