PURCHASE, N.Y., Jan. 10, 2019 /PRNewswire/ -- PepsiCo, Inc.
(NASDAQ: PEP) today announced that its Board of Directors has
unanimously elected Ramon Laguarta
as the company's Chairman of the Board, succeeding Indra K. Nooyi
who announced in August 2018 her
intention to step down as PepsiCo CEO effective October 3, 2018 and remain Chairman until early
2019 to ensure a smooth and seamless transition. The appointment is
effective when Chairman Nooyi retires from the company on
February 1, 2019.
Laguarta is currently Chief Executive Officer of the global food
and beverage company, a role he assumed on October 3, 2018. He becomes the sixth Chairman
and CEO in PepsiCo's 53-year history, following Nooyi, Steve Reinemund, Roger
A. Enrico, Wayne D. Calloway
and Donald M. Kendall. Herman W. Lay served as PepsiCo's first
chairman, while Kendall served as CEO.
"I am honored to take on this important post and want to thank
the Board for the confidence they have placed in me," said
Laguarta. "I also want to thank Indra for her outstanding
leadership and tireless work on behalf of PepsiCo. I look forward
to building on the strong legacy she and our previous leaders have
created, and to working with our very talented global team to
position PepsiCo for our next phase of growth."
Laguarta, a 22-year veteran of PepsiCo, has held a number of
executive and leadership roles within the company. Prior to
becoming CEO, he served as President of PepsiCo, with
responsibility for shaping the company's corporate strategy,
working closely with business units to deliver top-line growth,
driving productivity to enable this growth, and investing in new
areas of disruptive innovation. In this capacity he oversaw
PepsiCo's Global Category Groups; its Global Operations, Corporate
Strategy, and Public Policy & Government Affairs functions; and
the PepsiCo Foundation. Previously, Laguarta served as Chief
Executive Officer, Europe Sub-Saharan Africa, one of PepsiCo's most
complex businesses with operations spanning three continents and
comprised of developed, developing and emerging markets. Prior to
that, he served as President, PepsiCo Eastern Europe region and
served in a variety of sales, marketing and other commercial roles
across Europe.
Speaking on behalf of PepsiCo's Board of Directors, Presiding
Director Ian Cook said: "We are pleased to appoint Ramon
as our company's Chairman. He is an outstanding leader with a
compelling vision for PepsiCo and a keen understanding of the
evolving needs of consumers around the world. His vast PepsiCo
knowledge, combined with his innovative thinking and proven
executional excellence, make him the ideal steward to take on this
most important role and lead our company into the future."
Cook continued: "On behalf of the Board and the entire PepsiCo
family, I want to sincerely thank Indra for her leadership and
commitment over the last 24 years, for paving the way for future
leaders to 'do well by doing good,' and for making PepsiCo one of
the world's most ethical and admired companies. She proved that it
is possible to deliver extraordinary and consistent financial
performance while making a difference in the world around us, and
leaves a lasting legacy."
Nooyi served as PepsiCo's Chairman since 2007 and as Chief
Executive Officer for 12 years. Prior to becoming CEO, Nooyi served
as President and Chief Financial Officer beginning in 2001, when
she was also named to PepsiCo's Board of Directors. Nooyi
joined PepsiCo in 1994.
About PepsiCo
PepsiCo products are enjoyed by
consumers more than one billion times a day in more than 200
countries and territories around the world. PepsiCo
generated more than $63
billion in net revenue in 2017, 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 enable 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 "estimate," "expect," "may,"
"plan," "position," "will" or similar statements or variations of
such words and other similar expressions 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; 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; PepsiCo's ability to recruit,
hire or retain key employees or a highly skilled and diverse
workforce; loss of any key customer or disruption to the retail
landscape, including rapid growth in hard discounters and the
e-commerce channel; climate change or water scarcity, or legal,
regulatory or market measures to address climate change or water
scarcity; 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.
Contacts:
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Investors
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Media
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Jamie
Caulfield
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Carrie
Ratner
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Investor
Relations
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Corporate
Communications
|
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914-253-3035
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914-253-3817
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investor@pepsico.com
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carrie.ratner@pepsico.com
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SOURCE PepsiCo, Inc.