PepsiCo Names New President, But No CEO Successor
On Thursday snacks and beverage maker PepsiCo (PEP) - Get Report appointed Ramon Laguarta, who is currently serving as CEO of the company's Europe Sub-Saharan Africa, to serve as PepsiCo's president.
"In his new role, Laguarta will shape PepsiCo's corporate strategy, work closely with business units to deliver top line growth, drive productivity to enable this growth, and invest in new areas of disruptive innovation, all in support of the company's previously announced Performance with Purpose 2025 agenda," PepsiCo said.
The company announced two other senior leadership appointments. Laxman Narasimhan, currently serving as CEO of the company's Latin America unit, will become CEO LATAM and ESSA, overseeing food and beverage operations in both locations.
Silviu Popovici currently serves as president of the company's Russia, Ukraine and CIS units, and will now serve as president of the ESSA unit.
Noticeably absence from today's announcements is the declaration of a successor to follow CEO Indra Nooyi. Nooyi has plans to continue running PepsiCo "for the foreseeable future," she told the Wall Street Journal in a recent interview.
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