NEW YORK ( TheStreet ) -- Pepsico ( PEP ) said its president, Zein Abdalla, who had been considered a favorite to succeed CEO Indra Nooyi, will retire next month, according to Bloomberg. The company gave no reason for the departure, which takes effect Dec. 31, and didn't announce a replacement, according to a regulatory filing yesterday. Abdalla was named president in September 2012 after managing the company's European unit. The post is among the highest at Purchase, New York-based PepsiCo, the world's largest snack maker and second-biggest soda maker. Chief Financial Officer Hugh Johnston also is considered a likely successor to Nooyi, who hasn't said how long she intends to stay, Bloomberg reports. STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. Shares of Pepsico closed lower yesterday at $96.81.