Sector News

PepsiCo elects Laguarta chairman

January 17, 2019
Food & Drink

Ramon Laguarta has been elected chairman of the board of PepsiCo, Inc., effective Feb. 1. He will succeed Indra K. Nooyi, who announced last fall her intent to step down from the company in early 2019.

Mr. Laguarta succeeded Ms. Nooyi as chief executive officer of PepsiCo on Oct. 3, 2018. He is set to become the sixth chairman and c.e.o. in PepsiCo’s 53-year history, following Ms. Nooyi, Steven S. Reinemund, Roger A. Enrico, Wayne D. Calloway and Donald M. Kendall. Herman W. Lay was PepsiCo’s first chairman, while Mr. Kendall served as c.e.o.

Mr. Laguarta has been with the company for 22 years. Prior to being named c.e.o., he was president of PepsiCo, overseeing global operations, corporate strategy, public policy and government affairs. Previously, Mr. Laguarta was c.e.o., Europe Sub-Saharan Africa.

“I am honored to take on this important post and want to thank the board for the confidence they have placed in me,” Mr. Laguarta said. “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.”

Ian Cook, presiding director of PepsiCo’s board of directors, described Mr. Laguarta as an outstanding leader with “a compelling vision for PepsiCo and a keen understanding of the evolving needs of consumers around the world.”

Mr. Cook also thanked Ms. Nooyi for her service.

“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,” he said. “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.”

Ms. Nooyi was chairman since 2007 and was c.e.o. from 2006-18.

By Eric Schroeder

Source: Food Business News

comments closed

Related News

September 12, 2021

Roquette opens a plant protein center of expertise in Vic-sur-Aisne, France

Food & Drink

The new center of expertise illustrates Roquette’s strategy of making its Vic-sur-Aisne site a dedicated place for plant protein development. This center will be a major asset to design the future technological processes that will bring new plant protein properties.

September 12, 2021

Cargill opens $150m pectin processing plant in Brazil

Food & Drink

The new state-of-the-art facility will prioritise “sustainable production with advanced CO2 emission reductions and biomass reuse,” a company statement said. It will also enable Cargill to meet increasing demand for clean label texturising ingredients.

September 12, 2021

Azelis IPO to raise US$1B on Belgian stock market

Food & Drink

The move will assist in repaying outstanding debt (circa €1.6 billion or US$1.9 billion), while providing the company with increased financial flexibility. The IPO is also expected to support Azelis’ growth strategy and future acquisitions by providing funding and giving it access to capital markets.

Send this to a friend