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

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