Frito Lay was a great place to work at because they did promote up, and they also hired the best. I would often be in meetings where one logistics manager went to MIT and the other logistics manager would be someone who started at a plant boxing chips.
My dad literally went from putting the chips in the boxes when he was 23 years old, to overseeing the construction of a brand new manufacturing plant (and running it), to managing scores of plants at HQ in his 40's. Frito-Lay however, is not immune from boneheaded decisions. After 20someodd years of employment, and a trophy case full of awards, he and some of his [white male] colleagues were laid off in favor of crea…
Except, as the article shows, diversity often does increase revenue share. Flamin' hot cheetos were invented by a Mexican immigrant who realized that Frito-Lay didn't have any products which appealed to Latino people.
EDIT: Changed Latinx to Latino.