Ramon Laguarta elected CEO of PepsiCo

Nooyi will step down on October 3rd after 24 years with the company, the last 12 as CEO. According to the company, she will remain Chairman until early 2019 to ensure a smooth and seamless transition.

Laguarta was also elected to the company's Board of Directors, effective October 3rd. He will become the sixth CEO in PepsiCo's 53-year history. All have been appointed from within the organization.

Laguarta has held a number of executive and general management roles in his 22 years at PepsiCo. Since September 2017, Laguarta has served as President of PepsiCo, overseeing global operations, corporate strategy, public policy and government affairs. Previously, Laguarta served as Chief Executive Officer, Europe Sub-Saharan Africa. Prior to that, he served as President, PepsiCo Eastern Europe region.