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PepsiCo elects CEO Laguarta to succeed Nooyi as chairman of co’s board
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Friday, 11 January, 2019, 13 : 00 PM [IST]
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PepsiCo, Inc has announced that its board of directors has unanimously elected Ramon Laguarta, currently the global food and beverage company’s chief executive officer, as chairman of its board, succeeding Indra K Nooyi, who announced in August 2018 her intention to step down as its CEO effective October 2018 and remain chairman until early 2019 to ensure a smooth and seamless transition. The appointment is effective when she retires from the company on February 1, 2019.
Laguarta, who assumed the PepsiCo CEO’s role in October 2018, has become the sixth chairman and CEO in the company’s 53-year history, following Nooyi, Steve Reinemund, Roger A Enrico, Wayne D Calloway and Donald M Kendall. Herman W Lay served as PepsiCo’s first chairman, while Kendall served as CEO.
“I am honoured to take on this important post and want to thank the board for the confidence they have placed in me,” said Laguarta, adding, “I also want to thank Nooyi 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. Prior to becoming CEO, he served as the company’s president, with responsibility 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.
In this capacity, he oversaw PepsiCo’s global category groups; its global operations, corporate strategy, and public policy and government affairs functions, and the PepsiCo Foundation. Previously, Laguarta served as CEO, 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 that, he served as president, PepsiCo Eastern Europe region, and served in a variety of sales, marketing and other commercial roles across Europe.
Speaking on behalf of the company’s board of directors, presiding director Ian Cook said, “We are pleased to appoint Laguarta 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. 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.”
“On behalf of the board and the entire PepsiCo family, I want to sincerely thank Nooyi for her leadership and commitment over the last 24 years, for paving 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,” he added.
Nooyi, who joined PepsiCo in 1994, served as PepsiCo’s chairman since 2007 and as chief executive officer for 12 years. Prior to becoming CEO, Nooyi served as president and chief financial officer beginning in 2001, when she was also named to PepsiCo’s board of directors.
Doritos launches Flamin’ Hot Nacho
Doritos, one of the marquee brands from PepsiCo’s Frito-Lay division, is setting the snack aisle on fire with the release of its latest bold flavour — Doritos Flamin’ Hot Nacho. For the first time on a tortilla chip nationwide, the new flavour offers a combination of the popular hot and spicy flavour of flamin’ hot and the timeless flavour of original nacho cheese.
“Doritos Flamin’ Hot Nacho is a new, unique flavor that gives fans the essence of the original Doritos Nacho Cheese with a flamin’ hot kick we know snackers love,” said Leslie Vesper, senior director, marketing, Frito-Lay North America, added, “We’re excited to bring together two of our most popular flavours just in time to spice up the snack aisle for the new year.”
Flamin’ Hot Nacho is Doritos’ latest push into the hot and spicy food category, one of the fastest-growing segments in the food industry. Flamin’ Hot Nacho’s taste experience starts with the original nacho cheese flavour fans know and love, followed by a kick of heat that continues to build.
The flamin’ red and black Doritos Flamin’ Hot Nacho packaging officially joins the Doritos ranks on store shelves and online nationwide today. Doritos Flamin’ Hot Nacho is available now in 9.75oz bags for a suggested retail price of $4.29 and 3.125oz bags for a suggested retail price of $1.89.
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