PepsiCo Names CEO Ramon Laguarta as Chairman

   By Jennifer Tershak

PepsiCo Inc. (PEP) said its board unanimously elected Chief Executive Ramon Laguarta as its new chairman, succeeding Indra K. Nooyi.

The Purchase, N.Y.-based food and beverage supplier said Ms. Nooyi, who announced in August her intention to step down as PepsiCo chief executive effective Oct. 3, will remain chairman until she retires on Feb. 1.

Mr. Laguarta becomes the sixth chairman and chief executive in PepsiCo's 53-year history. A 22-year veteran of the company, he has held a number of executive and leadership roles, including president, with responsibility for shaping corporate strategy.

Ms. Nooyi, who joined PepsiCo in 1994, served as PepsiCo's chairman since 2007 and as chief executive for 12 years.

"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," said presiding director Ian Cook on Thursday.

Write to Jennifer Tershak at jennifer.tershak@wsj.com

(END) Dow Jones Newswires

January 10, 2019 17:06 ET (22:06 GMT)

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