PepsiCo Announces Two Senior Leadership Appointments to Drive Accelerated Growth

Rhea-AI Summary

PepsiCo, Inc. (NASDAQ: PEP) announced two key leadership appointments on November 12, 2021, to enhance its growth strategy. Jane Wakely becomes Executive Vice President, Chief Consumer and Marketing Officer, and Chief Growth Officer, International Foods, focusing on consumer-centric innovation. Ram Krishnan is appointed CEO, International Beverages and Chief Commercial Officer, effective January 1, 2022, concentrating on accelerating the International Beverages business. These moves aim to optimize operations and drive brand growth across PepsiCo's portfolio.

Positive

• Appointment of Jane Wakely as EVP, Chief Consumer and Marketing Officer and Chief Growth Officer, International Foods.
• Jane Wakely's extensive marketing experience expected to enhance innovation and growth strategies.
• Ram Krishnan's new role as CEO, International Beverages aims to optimize operations and accelerate growth.

Negative

• None.

PURCHASE, N.Y., Nov. 12, 2021 /PRNewswire/ -- PepsiCo, Inc. (NASDAQ: PEP) today announced two senior leadership appointments as the company continues its efforts to be even Faster, Stronger and Better. Jane Wakely will join the company as Executive Vice President, Chief Consumer and Marketing Officer and Chief Growth Officer, International Foods. The company also appointed Ram Krishnan, currently serving as Chief Commercial Officer, to the newly created role of CEO, International Beverages and Chief Commercial Officer. Both executives will report to PepsiCo Chairman and CEO, Ramon Laguarta.

Wakely brings to the company an intense focus on consumers, insights and building best-in-class brand and category growth strategies. As Chief Consumer and Marketing Officer, she will focus on driving accelerated growth by elevating PepsiCo's consumer-centricity, innovation, brand and marketing capabilities.  As Chief Growth Officer, International Foods, Wakely will be responsible for accelerating the Positive Choices pillar of pep+ (PepsiCo Positive), which includes evolving the company's portfolio into new spaces that are better for the planet and people by developing products with more diverse ingredients, such as plant-based proteins, nuts and seeds, and whole grains.

"Jane is a creative and commercially-oriented marketer who is passionate about purpose and innovation as critical growth levers," said PepsiCo Chairman and CEO, Ramon Laguarta. "She has a proven track record of success, and I am confident that with her leadership, we will take our consumer-centricity, innovation, brand and marketing strategies and capabilities, and International Foods growth to a new level."

Wakely joins PepsiCo with 28 years of marketing experience at Procter & Gamble and at Mars, where since 2019 she served as Lead CMO and CMO of Pet Nutrition, one of the largest divisions of Mars' $40 billion portfolio. She was previously Global CMO of their Chocolate Division. She has operated globally and in highly complex product categories, brands and businesses across a variety of growth, turnaround and transformation challenges.

"PepsiCo is a marketing powerhouse known for its commitment to innovation and world-class, consumer-focused brands," said Wakely. "I look forward to working with my future colleagues to delight consumers with new propositions and purpose-driven brands that bring pep+ to life."

Krishnan, a 15-year PepsiCo veteran, will focus on driving accelerated growth for the International Beverages business, including the company's international franchise bottlers, with an end-to-end focus on brand-building, innovation, supply chain, digitalization, talent and sustainability. Krishnan will also be charged with leading faster growth for the SodaStream and Beyond the Bottle businesses, as well as the Pepsi Lipton partnership, the company's joint venture with Unilever. This move, effective January 1, 2022, will bring PepsiCo's critical beverage expertise and commercial capabilities into one group, with an eye toward optimizing the end-to-end operating model, capital allocations and building new capabilities. Krishnan will continue to oversee the company's e-Commerce business and global commercial capabilities.

"Ram has been an incredibly effective leader for our commercial agenda," said Laguarta. "With this newly created role, he will bring focus and a proven formula for success to drive faster growth for our International Beverages business."

About PepsiCo 
PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $70 billion in net revenue in 2020, driven by a complementary food and beverage portfolio that includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker, Tropicana, and SodaStream. PepsiCo's product portfolio includes a wide range of enjoyable foods and beverages, including 23 brands that generate more than $1 billion each in estimated annual retail sales.

Guiding PepsiCo is our vision to Be the Global Leader in Convenient Foods and Beverages by Winning with Purpose. "Winning with Purpose" reflects our ambition to win sustainably in the marketplace and embed purpose into all aspects of our business strategy and brands. For more information, visit www.pepsico.com.

Cautionary Statement
This release contains statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified through the inclusion of words such as "aim," "anticipate," "believe," "drive," "estimate," "expect," "goal," "intend," "may," "plan," "project," "strategy," "target" and "will" or similar statements or variations of such terms and other similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from those predicted in such statements, including future demand for PepsiCo's products; damage to PepsiCo's reputation or brand image; PepsiCo's ability to compete effectively; political or social conditions in the markets where PepsiCo's products are made, manufactured, distributed or sold; PepsiCo's ability to grow its business in developing and emerging markets; and changes in economic conditions in the countries in which PepsiCo operates. For additional information on these and other factors that could cause PepsiCo's actual results to materially differ from those set forth herein, please see PepsiCo's filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K and subsequent reports on Forms 10-Q and 8-K. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made. PepsiCo undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

Contact: pepsicomediarelations@pepsico.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/pepsico-announces-two-senior-leadership-appointments-to-drive-accelerated-growth-301423045.html

SOURCE PepsiCo, Inc.

FAQ

What leadership appointments did PepsiCo announce on November 12, 2021?

PepsiCo announced the appointments of Jane Wakely as Executive Vice President, Chief Consumer and Marketing Officer, and Ram Krishnan as CEO, International Beverages, effective January 1, 2022.

What is Jane Wakely's role at PepsiCo?

Jane Wakely will serve as Chief Consumer and Marketing Officer and Chief Growth Officer, focusing on consumer-centric innovation and brand growth.

What will Ram Krishnan focus on in his new role at PepsiCo?

Ram Krishnan will concentrate on driving growth for the International Beverages business and optimizing operations and capital allocations.

How does PepsiCo aim to enhance its growth strategy with these appointments?

PepsiCo aims to enhance growth by focusing on consumer-centric marketing, innovation, and optimizing the end-to-end operating model in its beverage segment.