PURCHASE, N.Y., June 12, 2019 /PRNewswire/ -- PepsiCo, Inc. (NASDAQ: PEP) today announced that Ram Krishnan, currently Chief Executive Officer, Greater China for PepsiCo, has been appointed to the role of PepsiCo's Global Chief Commercial Officer. Krishnan will continue to lead PepsiCo's Greater China sector at this point. He replaces Laxman Narasimhan who is departing the company to become Chief Executive Officer of the Reckitt Benckiser Group.
Krishnan is a highly experienced and successful PepsiCo executive who has brought a strategic mindset and outstanding judgment to each of his roles since joining the company in 2006. He held successive roles at Frito-Lay, ultimately becoming the business's Chief Marketing Officer in 2014. In 2016, Krishnan was promoted to the role of North American Commercial General Manager and Senior Vice President, Walmart Customer Team, where his strategic thinking and deep consumer understanding helped cement a strong relationship with one of the company's most important customers. He was appointed to lead PepsiCo's China business in 2017. In China, Krishnan has displayed an ability to quickly adapt to new cultures, developing locally-tailored supply chains and go-to-market capabilities.
Commenting on the appointment, PepsiCo Chairman and CEO Ramon Laguarta said, "Ram is a proven leader with deep consumer and customer understanding who also knows how to harness data to drive business growth. Equally important, he embodies how we do business—The PepsiCo Way— embracing consumer centricity, acting as an owner and celebrating success across each position that he's held. Ram understands the importance of competing locally, which has driven his ability to win in both Eastern and Western markets. He is just the kind of competitive, strategic leader we need as PepsiCo continues on our journey to accelerate growth."
Laguarta continued: "Ram's appointment comes as Laxman, a highly respected leader, begins a new, exciting chapter in his career. We have benefited from Laxman's strategic vision over the past seven years and are grateful for his many contributions to PepsiCo's success."
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 $64 billion in net revenue in 2018, driven by a complementary food and beverage portfolio that includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. PepsiCo's product portfolio includes a wide range of enjoyable foods and beverages, including 22 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 the business. For more information, visit www.pepsico.com.
Statements in this communication that are "forward‐looking statements" are based on currently available information, operating plans and projections about future events and trends. Terminology such as "grow," "plan," "will" or similar statements or variations of such words and other similar expressions are intended to identify forward‐looking statements, although not all forward‐looking statements contain such terms. Forward‐looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from those predicted in such forward‐looking statements. Such risks and uncertainties include, but are not limited to: changes in demand for PepsiCo's products, as a result of changes in consumer preferences or otherwise; changes in laws related to the use or disposal of plastics or other packaging of PepsiCo's products; changes in, or failure to comply with, applicable laws and regulations; failure to successfully complete or integrate acquisitions and joint ventures into PepsiCo's existing operations or to complete or manage divestitures or refranchisings; PepsiCo's ability to recruit, hire or retain key employees or a highly skilled and diverse workforce; or other factors that may adversely affect the price of PepsiCo's publicly traded securities and financial performance.
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 statements, whether as a result of new information, future events or otherwise.
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