PepsiCo, the manufacturer of beverages and snacks, is contemplating multiple candidates for the position of President and Chief Executive Officer for its business in India. This includes a potential candidate from its global system, as indicated by executives with direct knowledge of the ongoing considerations.
Earlier, George Kovoor, the current Senior Vice President and General Manager of beverages at PepsiCo India, was believed to be taking over the top role to succeed Ahmed ElSheikh. The developments follow PepsiCo’s current president ElSheikh, who is expected to move to a global role within the company this year, making way for the leadership transition.
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Factors Guiding PepsiCo’s Leadership Transition:
Executives mentioned a blend of factors contributing to the recent developments. “Long-term and sustained profitability, and not just volume growth, for the snacks and beverages business is a core criterion. Another global mandate is the requirement for sharper marketing, with intensified competition,” stated one of the executives.
PepsiCo, the New York-based company, reported a mid-single-digit decline in its snacks business for the quarter ending September 2023, as disclosed during its earnings call.
In the past 12-15 months, the snacks sector, in particular, has witnessed heightened competition, marked by the entry of numerous new players and a robust resurgence of regional brands, leading to a shift in market share from national players.
An email requesting a comment from PepsiCo India went unanswered until the time of press.
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