Earlier, PepsiCo India‘s current senior vice president and general manager, beverages, George Kovoor, 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.
Executives cited a combination of reasons for 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,” said one of the executives.
PepsiCo’s snacks business declined to mid-single digits in the quarter to September 2023, the New York-based company said in its earnings call.
Snacks, specially, has seen intensified competition in the last 12-15 months, with multiple new players and strong resurgence of regional brands snapping market share from national players.
An email seeking comment from PepsiCo India remained unanswered till press time.
