Top Pepsi exec to take charge of DirecTV

Michael White begins job as CEO and president Jan. 1

NEW YORK -- Satellite TV giant DirecTV has picked top Pepsi executive Michael White as its new president and CEO.

White will assume his new role at DirecTV on Jan. 1.

He had announced in September that he would retire later this year from his current position as CEO of PepsiCo International and vice chairman of PepsiCo.

DirecTV has been without a CEO since Chase Carey re-joined News Corp. a few months ago. Larry Hunter has served as interim CEO.

"After a very thorough search, we have found an exceptional leader with a sustained track record of success, profitably growing businesses and a reputation for making the impossible possible," said DirecTV chairman and Liberty Media founder John Malone. "Mike also brings the highest degree of leadership, innovation and passion to the table -- all qualities that will help drive DirecTV's performance in the coming years."