Jagrut Kotecha appointed as the next PepsiCo India CEO

Food and beverage manufacturer PepsiCo India on Friday announced that it has appointed Jagrut Kotecha as the CEO of PepsiCo India. He will succeed Ahmed El Sheikh, who will take over as CEO for the Middle East Business Unit, in March, after a seven-year stint in India. At present, Kotecha is the Chief Commercial Officer for PepsiCo in Africa, Middle East, and South Asia (AMESA).

In a statement, the snacks and beverage major said the leadership change has been meticulously planned and was communicated to the India office employees on Thursday.

Eugene Willemsen, Chief Executive Officer – Africa, Middle East & South Asia, PepsiCo said, “India remains a pivotal market for PepsiCo, playing a crucial role in our global strategy. Over the last six years, Ahmed has been instrumental in transforming our business, driving innovation, and steering the team through challenging landscapes. His leadership saw the introduction of pioneering products and various community focused initiatives, and I look forward to continuing to work with him in his new capacity. I am equally excited to welcome Jagrut to the India executive team.”  

In his statement, Kotecha said: “Having been part of the PepsiCo family for the past 30 years, I have witnessed firsthand the unwavering commitment of PepsiCo India to excellence and innovation. This commitment has not only propelled our growth in the Indian market, but also reinforced our position as a leader in the industry. As I take on this new responsibility, I am excited to drive forward our mission, ensuring continued success and growth in the Indian market.”

PepsiCo India has been big expansion in India. It had announced its first food manufacturing plant in Nalbari, Assam with an investment of Rs 778 crore ($95 million) in September. This unit will be spread across 44.2 acres and will be operational by 2025.

In Q3 results, PepsiCo said the beverage segment garnered double-digit volume growth in India. But its snack volumes declined in the same quarter.

On its performance of the Africa, Middle East and South Asia (AMESA) region in Q3, the beverage maker said that the beverage unit volume in the region grew 3 per cent “primarily reflecting double-digit growth in India” and mid-single-digit growth in the Middle East.

PepsiCo India posted net profit of Rs 255.75 crore in FY23, up from Rs 27.87 crore in FY22. Total revenue was up about 29 per cent to about Rs 8,129 crore as per the company’s Registrar of Companies filing.

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