PepsiCo Appoints Three Top Leaders
PepsiCo announced three senior leadership appointments aimed at supporting the company's strategic priorities and growth agenda.
"PepsiCo has consistently delivered top-tier financial performance while simultaneously making investments that position the company for sustainable long-term growth," chairman and chief executive officer Indra Nooyi said in a statement announcing the appointments. "Our ability to perform while we transform is a testament to our people. We have built a strong bench of senior executives, and these leadership appointments will further enhance our efforts to create shareholder value and propel our company forward."
The following moves are effective Sept. 1:
Ramon Laguarta, currently CEO of Europe Sub-Saharan Africa (ESSA), will become president of the company. In his new role, he will shape PepsiCo's corporate strategy, work closely with business units to deliver top line growth, drive productivity to enable this growth, and invest in new areas of disruptive innovation — all in support of the company's previously announced "Performance with Purpose 2025" agenda.
Laguarta will work closely with Mehmood Khan, vice chairman and chief scientific officer, to drive category innovation and progress against PepsiCo's sustainability goals. He will continue reporting to Nooyi.
Laxman Narasimhan, currently CEO of Latin America, will become CEO of ESSA as well. In this new role, Narasimhan will oversee the company's food and beverage businesses across both geographies, with a focus on unlocking new growth opportunities for the two organizations, sharing commercial strategies and other best practices, and investing in talent development. Narasimhan also will continue reporting to Nooyi.
Silviu Popovici, currently president of Russia, Ukraine and CIS, has been named president of ESSA. He has been an integral part of PepsiCo's success in Russia and Eastern Europe during the past several years, leading his businesses through volatility while capitalizing on new growth opportunities and building capabilities for the future. Popovici will report to Narasimhan.
The above changes will have no impact on PepsiCo's external financial reporting structure. Consistent with current practice, the company will continue to report segments as Frito Lay North America, LATAM, Quaker Foods North America, North America Beverages, ESSA, and Asia Middle East and North Africa, .
PepsiCo ranked fourth on CGT's list of the Top 100 Consumer Goods Companies for 2016.