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PepsiCo GETS A NEW CEO, LAGUARTA TO TAKE CHARGE

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PepsiCo, Inc. ranked 44th on the 2017 Fortune 500 list will be soon having its sixth CEO. 
The entity came into existence in 1965 with the merger of the Pepsi-Cola Company and Frito-Lay, Inc. It is an American multinational food, snack, and beverage corporation headquartered in Purchase, New York

Indra Nooyi, on present CEO of PepsiCo joined the company in 1994 and was named CFO in 2001. She took charge as President and CEO in 2006 replacing Steven Reinemund, becoming the fifth CEO in PepsiCo's 44-year history. Nooyi, who spent the last 12 of her 24 years with the company in the top job, will be succeeded as CEO by PepsiCo's president, Ramon Laguarta. He will take charge as the global giant's sixth CEO.
Nooyi will leave executive leadership in October and step down as chairman in early 2019, the company said.

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Laguarta has held various roles at PepsiCo since he joined, 22 years ago across sales, marketing and commercial. Prior to his promotion to president, a role in which he was responsible for global operations, corporate strategy, public policy and government affairs, he was CEO of PepsiCo’s Europe Sub-Saharan Africa division.
Prior to PepsiCo, he worked at Chupa Chups in a number of international roles in Europe and the US.

He says: “I’m incredibly humbled and privileged to be appointed the next CEO of PepsiCo, and I want to thank the board of directors for the confidence they have placed in me with their decision. I also want to thank Indra for her overwhelming support. She has transformed the company with her bold vision and outstanding leadership, and I feel fortunate to have her as a mentor and a friend.
“And of course, I want to thank all of my colleagues, as well as the customers, bottlers, partners, and investors who are part of the PepsiCo family. I look forward to working more closely with all of you in the months and years ahead, and to continue growing this special company long into the future.”

According to  Neil Saunders, managing director of GlobalData Retail, Laguarta is well-versed in all things PepsiCo deals and has direct experience in areas that are key to the company's future, including corporate strategy and overseas expansion.
"When she steps down, (Nooyi) will leave a company stronger than the one she inherited 12 years ago," Saunders said.



Written by: Ojus Sindwani


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