PURCHASE, N.Y., July 20, 2017 /PRNewswire/ -- PepsiCo, Inc.
(NYSE: PEP) today announced three senior leadership appointments
that support 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," said PepsiCo
Chairman and CEO Indra Nooyi. "Our
ability to perform while we transform is a testament to our people.
All across the business, from our frontline associates to our
senior executives, PepsiCo is home to the very best talent in the
industry. 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 September 1, 2017:
- Ramon Laguarta, currently
CEO, Europe Sub-Saharan Africa (ESSA), will become president,
PepsiCo. In his new role, Laguarta 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.
Specifically, he will oversee PepsiCo's Global Category Groups; its
Global Operations, Corporate Strategy, and Public Policy &
Government Affairs functions; and the PepsiCo Foundation.
Operationally, he will work closely with Mehmood Khan, Vice Chairman and Chief Scientific
Officer, to drive category innovation and progress against
PepsiCo's sustainability goals.
Laguarta brings more than 20 years
of PepsiCo experience to his new role. In his most recent position,
he led the transformation of the company's European product
portfolio and significantly strengthened PepsiCo's position in key
growth markets. Prior to becoming ESSA
CEO, he served as PepsiCo Europe's president of developing
and emerging markets. Previous roles include president, PepsiCo
Eastern Europe Region; commercial vice president for PepsiCo
Europe; general manager for Iberia Snacks and Juices; and general
manager for Greece Snacks.
Laguarta will continue to report
to Nooyi.
- Laxman Narasimhan,
currently CEO, Latin America
(LATAM), will become CEO, LATAM and ESSA. 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 joined PepsiCo in 2012
from McKinsey & Company, where he served almost 20 years in a
variety of positions, including as a senior partner, and co-leader
of the Global Consumer and Shopper Insights Practice, as well as
overseeing the firm's research on emerging market consumers. He has
held several senior leadership positions with increasing
responsibility over the past five years. As LATAM CEO, he has
successfully led the business through sector-wide volatility,
strengthened relationships with franchise bottlers, and forged new
collaborations with governments and NGOs in pursuit of the
company's sustainability agenda. Prior to being named LATAM CEO in
2015, he served as CEO, Latin America Foods, responsible for the
company's foods businesses in Mexico, Brazil, Central
America, South America and
the Caribbean. He also served as
senior vice president and chief financial officer, PepsiCo Americas
Foods.
Narasimhan will continue to report
to Nooyi.
- Silviu Popovici,
currently president, Russia,
Ukraine and CIS, has been named
president, ESSA.
Popovici 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. Previously, he spent three years as president,
PepsiCo Russia. Earlier in his career, he held senior leadership
roles at Wimm-Bill-Dann, running both its beverage and dairy
businesses. Prior to joining PepsiCo, Popovici held several general
management positions with the Coca-Cola system in Eastern Europe.
In his new role, Popovici will
report to Narasimhan.
"Ramon, Laxman and Silviu are highly respected executives with
long track records of delivering strong results throughout their
careers," Nooyi said. "These moves continue our longstanding
practice of elevating great leaders within PepsiCo and allowing
them to apply their capabilities in new ways that support our
strategies for growth. We have an incredibly strong executive team
in place, and I have no doubt that our next generation of talent
will lift our company to even greater heights in the years
ahead."
The above changes will have no impact on PepsiCo's external
financial reporting structure. 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, consistent with
current practice.
About PepsiCo
PepsiCo products are enjoyed by
consumers one billion times a day in more than 200 countries and
territories around the world. PepsiCo generated approximately
$63 billion in net revenue in 2016,
driven by a complementary food and beverage portfolio that includes
Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. PepsiCo's
product portfolio includes a wide range of enjoyable foods and
beverages, including 22 brands that generate more than $1 billion each in estimated annual retail
sales.
At the heart of PepsiCo is Performance with Purpose – our
fundamental belief that the success of our company is inextricably
linked to the sustainability of the world around us. We believe
that continuously improving the products we sell, operating
responsibly to protect our planet and empowering people around the
world is what enables PepsiCo to run a successful global company
that creates long-term value for society and our shareholders. For
more information, visit www.pepsico.com.
Cautionary Statement
Statements in this communication that are "forward-looking
statements" are based on currently available information, operating
plans and projections about future events and trends. Terminology
such as "aim," "anticipate," "believe," "drive," "estimate,"
"expect," "expressed confidence," "forecast," "future," "goal,"
"guidance," "intend," "may," "objective," "outlook," "plan,"
"position," "potential," "project," "seek," "should," "strategy,"
"target," "will" or similar statements or variations of such terms
are intended to identify forward-looking statements, although not
all forward-looking statements contain such terms. Forward-looking
statements inherently involve risks and uncertainties that could
cause actual results to differ materially from those predicted in
such forward-looking statements. Such risks and uncertainties
include, but are not limited to: changes in demand for PepsiCo's
products, as a result of changes in consumer preferences or
otherwise; changes in, or failure to comply with, applicable laws
and regulations; imposition or proposed imposition of new or
increased taxes aimed at PepsiCo's products; imposition of labeling
or warning requirements on PepsiCo's products; changes in laws
related to packaging and disposal of PepsiCo's products; PepsiCo's
ability to compete effectively; political conditions, civil unrest
or other developments and risks in the markets where PepsiCo's
products are made, manufactured, distributed or sold; PepsiCo's
ability to grow its business in developing and emerging markets;
unfavorable economic conditions in the countries in which PepsiCo
operates; the ability to protect information systems against, or
effectively respond to, a cybersecurity incident or other
disruption; increased costs, disruption of supply or shortages of
raw materials and other supplies; business disruptions; product
contamination or tampering or issues or concerns with respect to
product quality, safety and integrity; damage to PepsiCo's
reputation or brand image; failure to successfully complete or
integrate acquisitions and joint ventures into PepsiCo's existing
operations or to complete or manage divestitures or refranchisings;
changes in estimates and underlying assumptions regarding future
performance that could result in an impairment charge; increase in
income tax rates, changes in income tax laws or disagreements with
tax authorities; failure to realize anticipated benefits from
PepsiCo's productivity initiatives or global operating model;
PepsiCo's ability to recruit, hire or retain key employees or a
highly skilled and diverse workforce; loss of any key customer or
changes to the retail landscape; any downgrade or potential
downgrade of PepsiCo's credit ratings; PepsiCo's ability to
implement shared services or utilize information technology systems
and networks effectively; fluctuations or other changes in exchange
rates; climate change or water scarcity, or legal, regulatory or
market measures to address climate change or water scarcity;
failure to successfully negotiate collective bargaining agreements,
or strikes or work stoppages; infringement of intellectual property
rights; potential liabilities and costs from litigation or legal
proceedings; and other factors that may adversely affect the price
of PepsiCo's publicly traded securities and financial
performance.
For additional information on these and other factors that could
cause PepsiCo's actual results to materially differ from those set
forth herein, please see PepsiCo's filings with the Securities and
Exchange Commission, including its most recent annual report on
Form 10-K and subsequent reports on Forms 10-Q and 8-K. Investors
are cautioned not to place undue reliance on any such
forward-looking statements, which speak only as of the date they
are made. PepsiCo undertakes no obligation to update any
forward-looking statements, whether as a result of new information,
future events or otherwise.
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SOURCE PepsiCo, Inc.