Daniel Birnbaum Steps Down After 12 Years as SodaStream's CEO

After a 12-year tenure as the CEO of PepsiCo Inc.-owned at-home water carbonation company SodaStream International Ltd., Daniel Birnbaum is stepping down, the company announced Monday. Deputy CEO Eyal Shohat will take over Birnbaum’s position in September, while Birnbaum will step in as the company’s chairman of the board.

PepsiCo acquired SodaStream in late 2018, paying $3.2 billion. Birnbaum is estimated to have made around $60 million from the deal. Shohat joined the company in 2010, and has served as deputy CEO since 2017.