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.
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.
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.
Comments
Post a Comment