The 54-year-old Laguarta, who's going to be the sixth CEO in PepsiCo's 53-year history, hails from Barcelona in Spain. Ramon Laguarta will officially take over from Nooyi on October 3. Laguarta's appointment marks the company's tradition of appointing CEOs from within the organisation.
"Ramon is a strong and proven PepsiCo executive who will help lead our company into the future,"notes PepsiCo on Twitter.
Laguarta was the CEO of PepsiCo Europe in 2014. He moved to the US in 2017 when he was appointed the company President. "I'm incredibly humbled and privileged to be appointed the next CEO of PepsiCo. I want to thank Indra for her overwhelming support. She has transformed the company with her bold vision and outstanding leadership, and I feel fortunate to have her as a mentor and a friend," said Laguarta.
Inra Nooyi, the current CEO of PepsiCo said: "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. He has a deep understanding of the changing preferences of consumers and other critical trends unfolding around the world, and he has demonstrated that he knows how to navigate them successfully. Ramon has been a critical partner in running the company, and I'm confident he will take PepsiCo to new and greater heights in the years to come."
Laguarta did his MBA from ESADE business school in Barcelona. He also holds a master's degree in International Management from the Thunderbird School of Global Management in the US. Before joining PepsiCo in 1996, he worked for Chupa Chups, a Spanish leading confectionery company, where he held a number of international roles in Europe and the US. He oversaw the company's food and beverage business across Europe and food business in Sub-Saharan Africa during his initial years with PepsiCo.