¶ Herbert Lester Barnet, 46, onetime New York lawyer, was named president of Pepsi-Cola, replacing Alfred Nu Steele, who moved up to the board chairmanship and remains chief executive officer. Barnet developed a nodding acquaintance with Pepsi-Cola as a member of a New York law firm which handled Pepsi's business, did so well that in 1949 he went over full time. Put in charge of all concessions, Barnet hit the spot, and within a year was twice promoted to veep in charge of national sales, then to vice president in charge of...
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