PepsiCo India has announced the appointment of Jagrut Kotecha as the new CEO of PepsiCo India. Kotecha will succeed Ahmed El Sheikh, who will be taking over as the CEO for the Middle East Business Unit in March. This leadership change has been meticulously planned and was communicated to the India office employees on Thursday.
Jagrut Kotecha is currently serving as the Chief Commercial Officer for PepsiCo in Africa, Middle East, and South Asia (AMESA). With over 30 years of experience in the company, Kotecha has witnessed firsthand the commitment of PepsiCo India to excellence and innovation. He expressed his excitement to take on this new responsibility and drive forward the mission of continued success and growth in the Indian market.
PepsiCo India has been experiencing significant expansion in the country. In September, the company announced its first food manufacturing plant in Nalbari, Assam, with an investment of Rs 778 crore ($95 million). This new unit, which will be operational by 2025, highlights PepsiCo’s dedication to strengthening its operations in India and reinforcing its commitment to innovation and customer satisfaction.
In terms of financial performance, PepsiCo India posted a net profit of Rs 255.75 crore in FY23, up from Rs 27.87 crore in FY22. The company’s total revenue also saw a significant increase of about 29% to approximately Rs 8,129 crore. These numbers reflect the success and growth of PepsiCo India in the Indian market.
India remains a pivotal market for PepsiCo, playing a crucial role in the company’s global strategy. Over the past six years, Ahmed El Sheikh, the outgoing CEO of PepsiCo India, has been instrumental in transforming the business, driving innovation, and steering the team through challenging landscapes. Under his leadership, PepsiCo India introduced pioneering products and various community-focused initiatives.
Eugene Willemsen, Chief Executive Officer – Africa, Middle East & South Asia, PepsiCo, expressed his excitement about the leadership change and welcomed Jagrut Kotecha to the India executive team. He also acknowledged Ahmed El Sheikh’s contributions and expressed his confidence in Kotecha’s ability to continue scaling new heights of success with Indian consumers.
RTM Watch’s Take
The appointment of Jagrut Kotecha as the new CEO of PepsiCo India signals a continuation of the company’s commitment to excellence and growth in the Indian market. With Kotecha’s extensive experience and the well-planned transition, PepsiCo aims to build on its recent successes and innovations. The company’s significant investments, including the upcoming food manufacturing plant in Assam, highlight a dedicated focus on strengthening operations and customer satisfaction in India. Kotecha is poised to lead PepsiCo India into a new era of success and innovation, with the company’s impressive financial performance reflecting its resilience and growth.
