PepsiCo names new president, shuffles 2 more execs

PURCHASE, N.Y. — PepsiCo on Thursday announced three senior leadership appointments, including naming a new president. Ramon Laguarta, currently CEO of PepsiCo’s Europe Sub-Saharan Africa, or ESSA, segment, will assume the position of president, effective Sept. 1.

 

Additionally, current CEO Latin America, or LATAM, Laxman Narasimhan will become CEO LATAM and ESSA, and current president of Russia, Ukraine and CIS Silviu Popovici will be president ESSA, both effective Sept. 1.

 

“PepsiCo has consistently delivered top-tier financial performance while simultaneously making investments that position the company for sustainable long-term growth,” PepsiCo Chairman and CEO Indra Nooyi said. "Our ability to perform while we transform is a testament to our people. All across the business, from our front-line associates to our senior executives, PepsiCo is home to the very best talent in the industry. We have built a strong bench of senior executives, and these leadership appointments will further enhance our efforts to create shareholder value and propel our company forward."

 

Laguarta has been with PepsiCo for more than 20 years, most recently leading the company’s transformation of its European product portfolio and improving its position in key growth markets, the company said. Before leading ESSA, he was PepsiCo Europe’s president of developing and emerging markets. In his new role, he will shape the company’s corporate strategy and work with business units to deliver growth, drive productivity and invest in innovation. He also will oversee PepsiCo’s global category groups, the PepsiCo Foundation and the company’s global operations, corporate strategy and public policy and government affairs functions. 

 

Narasimham joined PepsiCo from McKinsey & Co. in 2012 after nearly 20 years in various positions, including senior partner and co-leader of the Global Consumer and Shopper Insights practice. During his time at PepsiCo he has held several senior leadership positions. As LATAM CEO has navigated volatility in the sector, strengthened franchise bottler relationships and built relationships with governments and organizations to help the segment further its sustainability agenda. 

 

Popovici has led the Russian and Eastern European division through volatility while capitalizing on growth opportunities, the company said. He was previously president of PepsiCo Russia. Before joining PepsiCo, he held several general management positions with the Coca-Cola system in Eastern Europe. 

 

"Ramon, Laxman and Silviu are highly respected executives with long track records of delivering strong results throughout their careers," Nooyi said. "These moves continue our longstanding practice of elevating great leaders within PepsiCo and allowing them to apply their capabilities in new ways that support our strategies for growth. We have an incredibly strong executive team in place, and I have no doubt that our next generation of talent will lift our company to even greater heights in the years ahead."