Everything to know about Ramon Laguarta, PepsiCo's new CEO
What's the story
It's official - Chennai-born Indra Nooyi is stepping down as the CEO of PepsiCo after 12 long years at the helm. Now, all eyes are on PepsiCo veteran and company President, Ramon Laguarta, who is set to take the reins from her. Indeed, if one looks at her contributions, Laguarta has big shoes to fill. Here's all we know about him.
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Laguarta thanks PepsiCo and Nooyi for his appointment
"I'm incredibly humbled and privileged to be appointed the next CEO of PepsiCo, and I want to thank the Board of Directors for the confidence...I also want to thank Indra for her overwhelming support," said Ramon Laguarta, commenting on his appointment as PepsiCo CEO.
Early life
Ramon Laguarta's pre-PepsiCo life
Born in Barcelona, Ramon Laguarta holds a MBA from the ESADE Business School in Spain, and a Master's in International Management from the Thunderbird School of Global Management in the US. Fluent in multiple languages including Spanish, English, French, German, and Greek, the Barcelona native used to work for leading Spanish confectionery company, Chupa Chups SA, before he began his PepsiCo career.
PepsiCo career
Laguarta's star-studded PepsiCo career started in 1996
In 1996, Laguarta joined PepsiCo, marking the start of what would be 22-year-long road to the top of the beverage and snacks giant. Laguarta served PepsiCo in various capacities since his joining, climbed the ladder and, in 2015, went on to become CEO of Europe and Sub-Saharan Africa, two of PepsiCo's most complex businesses. In September 2017, Laguarta was appointed President of PepsiCo.
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Taking the reins from Nooyi is a giant responsibility
Now, Ramon Laguarta is all set to become PepsiCo's sixth CEO in the company's 53-year-old history. Under Nooyi, PepsiCo saw strong growth with its net revenue growing from $35bn in 2006 to $63.5bn in 2017, and with dividend per share almost tripling in value. Laguarta has received strong backing from PepsiCo and Nooyi, and the veteran now has to prove himself.
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Outgoing CEO Indra Nooyi confident of Laguarta's abilities
"Ramon Laguarta is exactly the right person to build on our success. He is a terrific executive with a long and proven track record of growing businesses...Ramon has been a critical partner...and I'm confident he will take PepsiCo to new and greater heights," said Nooyi.