Dive Brief:
- PepsiCo named Ram Krishnan as the CEO for PepsiCo Beverages North America, the CPG giant said in a statement. He will take over from Kirk Tanner who is leaving Feb. 2 to become the CEO of hamburger chain Wendy’s.
- Krishnan has held several senior leadership roles at the beverage and snacking manufacturer since he joined the New York-based company in 2006.
- The leadership change comes as consumers distance themselves from sugary drinks and show less of a willingness to accept price hikes from companies trying to combat inflation.
Dive Insight:
As PepsiCo loses Tanner, who has been with the company for 32 years, it’s not going far to find his replacement. In selecting Krishnan for the post, PepsiCo picks an executive who is deftly familiar with the inner workings of the company and its strategy, as well as trends taking place throughout the North American beverage industry.
Krishnan currently serves as CEO of international beverages and chief commercial officer for PepsiCo. Previously, he had stints leading PepsiCo’s Asia Pacific, Australia/New Zealand and China region and was senior vice president and general manager of PepsiCo’s global Walmart Customer Team.
“His vast experience leading International Beverages and our global commercial agenda, paired with his roots in North America senior executive roles, make him a force to accelerate our beverage growth agenda,” Ramon Laguarta, PepsiCo’s CEO, said in a statement.
With companies such as PepsiCo dealing with a host of internal and outside challenges, PepsiCo wisely looked within for a replacement who could seamlessly step in to oversee its North American operations.
It’s an important division for a company whose portfolio includes beverages such as Gatorade, Muscle Milk, Aquafina and its namesake cola. In PepsiCo’s 2022 fiscal year, its North American beverages operation was responsible for nearly a third of the company’s $86 billion in revenue.
