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PepsiCo (PEP) Announces Retirement of North America Beverages CEO

January 18, 2024 4:31 PM

PepsiCo, Inc. (NASDAQ: PEP) today announced that Kirk Tanner, CEO of the company's North America beverage business will retire on February 2. Ram Krishnan is appointed as the CEO for PepsiCo Beverages North America.

Tanner retires from PepsiCo after 32 years of service to the company. He joined the company in 1992 and has held several leadership roles across sales, operations, customer marketing, distribution, and channel development working in many U.S. and international locations. He assumed the role of CEO for PepsiCo Beverages North America in 2019. Over the years, Tanner's responsibilities included serving as President of PepsiCo Global Foodservice, Senior Vice President and General Manager of Frito-Lay's West Business Division; Vice President of Sales at PepsiCo U.K. and Ireland; and multiple Vice President roles of Frito-Lay North America regions.

Tanner will join The Wendy's Company as Chief Executive Officer following his departure from PepsiCo.

Ram Krishnan will succeed Tanner as Chief Executive Officer for PepsiCo Beverages North America. Krishnan currently serves as Chief Executive Officer of International Beverages and Chief Commercial Officer for PepsiCo. In these roles he oversaw the company's Global Concentrate group, Franchise operations, Global Beverage group, SodaStream, Beyond the Bottle and the Global Commercial organization, which includes, Customer Strategy, Revenue Management, Go-to-Market, E-Commerce, Lipton, Beyond Joint Ventures, and PepsiCo Venturing Group.

Since joining PepsiCo in 2006, Krishnan has held a number of senior leadership roles, including CEO of PepsiCo's Asia Pacific, Australia/New Zealand and China (APAC) Region, Senior Vice President and General Manager of PepsiCo's global Walmart Customer Team, and Chief Marketing Officer of Frito-Lay North America. Prior to joining PepsiCo, Krishnan spent six years at Cadillac.

Speaking on Ram Krishnan's appointment, Ramon Laguarta, PepsiCo Chairman and Chief Executive Officer, said: "Ram is the ideal leader to take the helm of our North America beverage business and we are fortunate to be able to proudly appoint him from within our organization. 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. He is an innovator at heart who keeps people at the core of every decision, and I look forward to seeing his inspirational leadership in action."

Laguarta continued: "Kirk's leadership across our organization, and most recently as our North America beverage business CEO, has driven strong performance underpinned by a commitment to serving our customers, operational excellence and a continuous innovation pipeline. I'm grateful for his contributions to our business, and our people, and we will carry forward the tenacity and team-first mentality he embedded in the organization."

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