PepsiCo CEO Nooyi awarded $14.74 million in 2007

NEW YORK, March 24 (Reuters) - The chief executive of PepsiCo Inc (PEP.N: Quote, Profile, Research), the world's second-largest soft-drink maker, was awarded $14.74 million in compensation in 2007, according to a regulatory filing on Monday.

According to the company's annual proxy, CEO Indra Nooyi was awarded $1.3 million in salary, $3.2 million of nonequity incentive plan compensation and $404,071 in "other compensation." Nooyi was also granted stock and option awards worth $9.83 million as of the grant date in February 2007.

She was not awarded any bonus.

By the same method of calculation, Nooyi, who became chief executive in October 2006 and added the role of chairman of the board on May 2, 2007, was awarded $6.42 million in 2006.

Included in Nooyi's other compensation were perks such as $57,928 in aircraft usage and $17,639 for a car and driver.

But in October 2007, Nooyi's participation in Pepsico's car program was discontinued and the company authorized increased personal use of its ground transportation in lieu of a company car.

Nooyi's use of a car and driver for commuting and business enhances security and personal safety and increases her time available for business purposes, the company said.

By contrast, rival Coca-Cola Co (KO.N: Quote, Profile, Research) awarded its chief executive $21.65 million in compensation in 2007, a 3.6 percent increase from the prior year.

Coke shares rose 27 percent in 2007, outpacing a 21 percent increase in shares of PepsiCo. (Reporting by Martinne Geller, editing by Mark Porter)