PepsiCo appoints Ramon Laguarta as CEO to replace Indra Nooyi

07 Aug 2018
Financial Nigeria


Laguarta, who is 54 years old, will become the sixth CEO in PepsiCo's 53-year history.

Ramon Laguarta, CEO, PepsiCo, Inc

PepsiCo has announced the appointment of Ramon Laguarta to succeed Indra Nooyi as CEO of the multinational food, snack, and beverage corporation. The company also announced that 64-year-old Nooyi will step down on October 3, 2018, after a 12-year tenure as CEO.

Laguarta has held a number of executive and general management roles during his 22 years at PepsiCo. Since September 2017, he has served as President of PepsiCo, overseeing global operations, corporate strategy, public policy and government affairs.

Laguarta, who is 54 years old, will become the sixth CEO in PepsiCo's 53-year history. All PepsiCo CEOs have been appointed from within the organization, a testament to its strong bench of talent and succession planning.

"Ramon Laguarta is exactly the right person to build on our success,” said Nooyi, who remains as chairman of the beverage giant until 2019. “He is a terrific executive with a long and proven track record of growing businesses. I'm confident he will take PepsiCo to new and greater heights in the years to come."

"Leading PepsiCo has truly been the honor of my lifetime, and I'm incredibly proud of all we have done over the past 12 years to advance the interests not only of shareholders, but all our stakeholders in the communities we serve,” Nooyi said adding that growing up in India, she never imagined she would have the opportunity to lead such an extraordinary company.

According to a statement by PepsiCo, the beverage giant achieved 162 percent total shareholder return between December 31, 2006, through December 31, 2017 under Nooyi’s leadership. Also, $79.4 billion total cash returned to shareholders through dividends. Dividends per share nearly tripled from $1.16 in 2006 to $3.17 in 2017, a compound annual growth rate of nearly 10 percent.

"As Chairman and CEO, Indra has provided outstanding leadership over the past 12 years, serving as a model both within our industry and beyond for responsible corporate stewardship in the 21st century,” Ian Cook, a PepsiCo’s Director said on behalf of PepsiCo's Board of Directors said.

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 joining PepsiCo, Laguarta worked for Chupa Chups, S.A., a leading confectionery company based in Spain, where he held a number of international roles in Europe and America.

Laguarta holds an MBA from ESADE Business School in Spain and a Master's in International Management (M&M) from Thunderbird School of Global Management in the United States. A Barcelona native, he speaks multiple languages, including English, Spanish, French, German and Greek.

"I'm incredibly humbled and privileged to be appointed the next CEO of PepsiCo, and I want to thank the Board of Directors for the confidence they have placed in me with their decision," Laguarta said.  

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