Ramon Laguarta on Monday succeeded Indra Nooyi as the new CEO of PepsiCo.
Nooyi had served as the Chief Executive of the beverage giant for 12 years.
PepsiCo’s board of directors announced that Laguarta, 54–a 22-year PepsiCo veteran who has served as the company’s president since September 2017–to CEO and to the board, will assume the CEO role on October 3.
Nooyi, who served in various executive positions at PepsiCo for a total of 24 years, will stay on as chairman until early 2019.
PepsiCo said that the rest of its senior leadership will remain unchanged.
As president, Laguarta has been overseeing global operations, corporate strategy, public policy and government affairs. Previously, he served as CEO of the company’s Europe Sub-Saharan Africa division.