PURCHASE, N.Y., Dec. 7, 2017 /PRNewswire/ -- PepsiCo, Inc. today announced that, effective January 1, 2018, Mike Spanos, currently President, PepsiCo Greater China Region, will become Chief Executive Officer, Asia, Middle East and North Africa (AMENA), and Sanjeev Chadha, currently Chief Executive Officer of AMENA, will become Chairman of AMENA through the end of Q1 2018. Both Spanos and Chadha will report to PepsiCo Chairman and CEO Indra Nooyi.
"We have a strong bench of senior executives, and we are thrilled to promote Mike, one of our most seasoned and proven leaders, into this important role," said Nooyi. "Most recently, Mike has led our business in China through unprecedented change, growing our foods and beverage businesses and investing in our nutrition portfolio."
Nooyi continued, "On behalf of the entire team, I want to thank Sanjeev for his exemplary career at PepsiCo over the last 27 years and his extraordinary commitment to our company. His continued support as Chairman of AMENA until his retirement at the end of March will ensure a smooth transition."
Spanos has had a notable career at PepsiCo, spanning 24 years with posts in the U.S., Europe and Asia. Prior to leading PepsiCo's China business, he led the sales organization across PepsiCo's North America Beverages portfolio, and served as SVP and General Manager for the West Business Unit of the company's beverage operations. Previously, Spanos held various sales and GM roles, including Country Manager for Turkey and VP of Sales and Food Service for The Pepsi Bottling Group, Inc. He began his PepsiCo career as a frontline territory development manager in beverages.
The following moves are also effective January 1, 2018:
- Ram Krishnan, currently Senior Vice President and General Manager of the global PepsiCo Walmart business, will become President, Greater China Region (GCR), succeeding Spanos. In his new role, he will be responsible for PepsiCo's China business across beverages, foods and nutrition, working closely with the GCR leadership team and partners across AMENA to advance the company's growth in China. He will be based in Shanghai and report to Spanos.Krishnan brings more than a decade of experience at PepsiCo, where he has served in a number of senior leadership roles across brand and shopper marketing. In his current role, he leads the team that oversees the company's partnership with Walmart, bolstering PepsiCo's position as one of Walmart's leading suppliers. Previously, he served as Frito-Lay North America's (FLNA) Senior Vice President and Chief Marketing Officer.
- Chris Turner, currently Senior Vice President of Transformation for Frito-Lay North America, will become Senior Vice President and General Manager of the global PepsiCo Walmart business, reporting to Al Carey, Chief Executive Officer for North America.Turner joined PepsiCo almost two years ago, and is currently responsible for FLNA's Go-To-Market (GTM) organization in addition to leading the sector's transformation initiatives. Prior to joining PepsiCo, he was a Partner in the Dallas office of McKinsey & Company.
"At PepsiCo, we are fortunate to have the best talent in the industry, from our frontline associates to our senior executives," Nooyi added. "Both Ram and Chris are highly respected leaders with proven track records of success, and we are pleased when the opportunity presents itself to elevate our senior executives into new roles in support of personal and professional growth, while also enabling the success of 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 approximately $63 billion in net revenue in 2016, 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.
At the heart of PepsiCo is Performance with Purpose – our fundamental belief that the success of our company is inextricably linked to the sustainability of the world around us. We believe that continuously improving the products we sell, operating responsibly to protect our planet and empowering people around the world enable PepsiCo to run a successful global company that creates long-term value for society and our shareholders. For more information, visit www.pepsico.com.
Statements in this release that are "forward-looking statements" are based on currently available information, operating plans and projections about future events and trends. Forward-looking statements inherently involve risks and uncertainties. For information on certain factors that could cause actual events or results to differ materially from our expectations, 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.
SOURCE PepsiCo, Inc.