PepsiCo has announced that its Board of Directors has unanimously elected Ramon Laguarta as the company's Chairman of the Board, succeeding Indra K. Nooyi.
Nooyi announced her intention to step down as CEO last year, effective 3 October, but said she would remain as chairman until early 2019.
The new appointment is effective when Chairman Nooyi retires from the company on February 1, 2019.
Laguarta was recently appointed as CEO of the global food and beverage company, a role he assumed on October 3, 2018.
"I am honoured to take on this important post and want to thank the Board for the confidence they have placed in me," 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."
Laguarta, a 22-year veteran of PepsiCo, has held a number of executive and leadership roles within the company, most recently as president, responsible for shaping the company's corporate strategy, working closely with business units to deliver top-line growth, driving productivity to enable this growth, and investing in new areas of disruptive innovation.
"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,” presiding director Ian Cook said.
“His vast PepsiCo knowledge, combined with his innovative thinking and proven executional excellence, make him the ideal steward to take on this most important role and lead our company into the future."
A Lasting Legacy
Cook also thanked Nooyi for her leadership and commitment over the last 24 years.
He said that she has paved 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”.
“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."
© 2019 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click subscribe to sign up for the Checkout print edition.