Beverage and snacks giant PepsiCo India announced on Friday that Jagrut Kotecha, the Senior Vice President and Chief Commercial Officer for its AMESA (Asia, Middle East, and Africa) region, will assume the position of the new Chief for India.
In a statement released on Friday, PepsiCo announced that Ahmed El Sheikh, the current CEO for PepsiCo India, will transition from his role as the CEO for the Middle East Business Unit starting March 2024.
On January 12, according to ET’s report, Kotecha emerged as the frontrunner for the position of India CEO.
Executives familiar with the situation highlighted that Kotecha was preferred over others due to his extensive experience in the snacks industry.
Continue Exploring: PepsiCo eyes fresh leadership amidst intensifying competition in Indian snacks market
Eugene Willemsen, Chief Executive Officer for Africa and South Asia at PepsiCo, announced the leadership changes during his ongoing visit to India.
PepsiCo’s snacks business in India has encountered robust competition, leading to a loss in market share and a decline in volumes. The company aims to recover and strengthen its position, emphasizing the need for a leader with significant experience in the food sector. Executives familiar with the situation highlighted that PepsiCo’s primary focus is on fortifying its snacking business.
During its earnings call for the quarter ending September 2023, the New York-based company reported that PepsiCo’s snacks business, responsible for producing Lays and Doritos tortilla chips, experienced a decline in the mid-single digits.
According to details on his LinkedIn page, Kotecha served as the Vice President of the Snacks Category in the India region from 2016 to 2019. Before joining PepsiCo, he held the position of Sales Head at Cadbury India, a chocolate maker, from 1992 to 1994.