PepsiCo, Based In Westchester, Names Ramon Laguarta President

PURCHASE, NY - PepsiCo announced on Thursday that Ramon Laguarta, a 20-year executive at the company, has been picked to be its new president.

Laguarta currently serves as the Purchase-based company's CEO for Europe Sub-Saharan Africa (ESSA).

"PepsiCo has consistently delivered top-tier financial performance while simultaneously making investments that position the company for sustainable long-term growth," PepsiCo Chairman and CEO Indra Nooyi said in a statement. "Our ability to perform while we transform is a testament to our people. All across the business, from our frontline associates to our senior executives, PepsiCo is home to the very best talent in the industry. We have built a strong bench of senior executives, and these leadership appointments will further enhance our efforts to create shareholder value and propel our company forward."

Laguarta's promotion has sparked speculation, according to various business-news outlets, as to whether he will eventually succeed Nooyi. However, The Wall Street Journal quoted Nooyi as saying she will remain "for the foreseeable future."

The president's role had been vacant for three years, The Wall Street Journal reported.

Laxman Narasimhan, current CEO of PepsiCo's Latin American division, will add Laguarta's regional role to his portfolio, according to the press release.

PepsiCo also noted that Silviu Popovici, an executive who is currently president, Russia, Ukraine and CIS, will assume the role of president, ESSA.

Photo: A Google Maps aerial view of PepsiCo's Purchase headquarters.