PURCHASE, N.Y. — Ramon Laguarta will succeed Indra K. Nooyi as chief executive officer of PepsiCo, Inc. on Oct. 3. Ms. Nooyi will remain chairman of the board until early 2019 to ensure a smooth transition, according to the company.
Mr. Laguarta has been with the company for 22 years. Since September 2017, he has served as president of PepsiCo, overseeing global operations, corporate strategy, public policy and government affairs. Previously, Mr. Laguarta served as c.e.o., Europe Sub-Saharan Africa.
“Ramon is a strong and proven executive with an outstanding track record growing organically and by acquiring some of PepsiCo’s largest and most important international businesses,” said Daniel Vasella, chairman of the board’s nominating and corporate governance committee. “He keenly understands the evolving needs of consumers and customers and the trends affecting our business in markets around the world. He will bring the depth of experience and innovative thinking that has powered his previous achievements as he is inheriting a well-positioned company poised to continue delivering top-tier performance.
“Indra has been a visionary leader who transformed the corporation and led it to unprecedented success. Her leadership skills, strategic acumen, dedication and integrity have been critical to the sustained success of the corporation and the development of top talent.”
Speaking on behalf of PepsiCo’s board of directors, presiding director Ian Cook said: “As chairman and c.e.o., 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.
“She has delivered strong and consistent financial performance, managing with an eye toward not only the short run, but the long run as well. As c.e.o., she grew revenue more than 80%, outperforming our peers and adding a new billion-dollar brand almost every other year. And shareholders have benefited: $1,000 invested in PepsiCo in 2006 is worth more than two-and-a-half times that amount today.”