What are the key leadership changes announced in this filing?

PepsiCo announced the appointment of Ramon Laguarta as President and Laxman Narasimhan as Chief Executive Officer for the Latin America and Europe Sub-Saharan Africa regions, both effective September 1, 2017.

What are the responsibilities of the new President, Ramon Laguarta?

As President, Mr. Laguarta will be responsible for PepsiCo’s global category groups, global operations, corporate strategy, public policy & government affairs functions, and the PepsiCo foundation. He will also work with the Chief Scientific Officer on category innovation and sustainability goals.

What is the compensation structure for these new roles?

Both Mr. Laguarta and Mr. Narasimhan have an annual base salary of $900,000. Their 2017 annual incentive target remains 150% of base salary, and they will continue to participate in the company's long-term incentive program.

How do these appointments impact reporting structure?

Both Ramon Laguarta and Laxman Narasimhan will continue to report directly to PepsiCo’s Chairman of the Board and Chief Executive Officer, Indra Nooyi.

PEP 8-K: Leadership Changes

Summary

This 8-K filing from PepsiCo, Inc. (PEP) on July 20, 2017, announces significant executive leadership changes effective September 1, 2017. Ramon Laguarta has been appointed President of PepsiCo, taking on broad responsibilities for global category groups, operations, strategy, and public policy. This promotion signifies a strategic move to consolidate key global functions under a seasoned executive with extensive experience across various PepsiCo regions and functions. Laxman Narasimhan has been appointed Chief Executive Officer for both the Latin America (LATAM) and Europe Sub-Saharan Africa (ESSA) regions, consolidating oversight of food and beverage businesses across these critical geographies. These appointments are designed to streamline leadership and drive performance in key global markets.

Key Highlights

1Ramon Laguarta appointed President of PepsiCo, effective September 1, 2017.
2Laxman Narasimhan appointed Chief Executive Officer, Latin America (LATAM) and Europe Sub-Saharan Africa (ESSA), effective September 1, 2017.
3Mr. Laguarta's new role includes responsibility for global category groups, operations, strategy, public policy, and the PepsiCo foundation.
4Mr. Narasimhan will oversee both food and beverage businesses across the LATAM and ESSA regions.
5Both executives will continue to report to Chairman and CEO Indra Nooyi.
6Annual base salaries for both Laguarta and Narasimhan set at $900,000.
7Both executives remain eligible for the 2017 annual incentive plan and long-term incentive program, with targets set at 150% of base salary.

PEPSICO INC 8-K Report, Executive Changes (Jul 20, 2017)

Summary

Key Highlights

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