PepsiCo Names Jagrut Kotecha as New Chief for India Operations
PepsiCo India has revealed Jagrut Kotecha, currently serving as the Senior Vice President and Chief Commercial Officer for the AMESA (Asia, Middle East, and Africa) region, as the new leader for its India operations. Ahmed El Sheikh, the current CEO of PepsiCo India, is set to transition from his role in March 2024, taking on the position of CEO for the Middle East Business Unit, according to the company's statement on Friday. The January 12 edition had previously indicated Kotecha as the leading candidate for the India CEO role.
Kotecha emerged as the top choice due to his substantial expertise in the snacks sector, according to sources familiar with the matter. The shift in leadership was disclosed by Eugene Willemsen, Chief Executive Officer – Africa and South Asia at PepsiCo, during his current visit to India. PepsiCo's snacks business has been grappling with intense competition, experiencing a decline in market share and volumes in India. Consequently, the company aimed to regain its standing, emphasizing the need for a leader well-versed in the food industry. The company's strategic focus is on fortifying its snacking business, insiders with knowledge of the situation revealed.
During the earnings call in the quarter ending September 2023, PepsiCo, headquartered in New York, acknowledged a mid-single-digit decline in its snacks business, which encompasses popular brands like Lays and Doritos tortilla chips. Kotecha's background includes serving as the Vice President of the Snacks category in the India region from 2016 to 2019, as indicated on his LinkedIn profile. Before joining PepsiCo, he held the position of Sales Head at chocolate maker Cadbury India from 1992 to 1994, according to available information.