PepsiCo today announced that their India businesses are being elevated to "Region" status. This is in line with PepsiCo's global strategy of focusing on high priority emerging markets. The newly formed PepsiCo "India Region" will report directly to the Asia Middle East and Africa (AMEA) Division, one of the two divisions comprising PepsiCo International.
The new India Region will comprise the two big and fast growing India businesses: Foods and Beverages, along with Bangladesh, Nepal, Sri Lanka and Bhutan, and will be headquartered out of India.
The two top leaders of the new Region will be Sanjeev Chadha, Chairman, and Gautham Mukkavilli, President. According to Gautham Mukkavilli "The formation of the 'India Region' is a big recognition of India's growing importance in PepsiCo's global portfolio". Sanjeev Chadha said "This will help us unlock greater synergies, and further accelerate the growth in both our businesses".
Last month, during her India visit, Indra Nooyi announced an accelerated investment of US$ 500 million into PepsiCo's Indian Food & Beverage businesses. This brings PepsiCo's cumulative investment in the country to over US$ 1.5 billion, generating over 150,000 direct and indirect jobs in the Indian economy. The current announcement is an integral part of PepsiCo's high growth strategy in key markets. This will also enable empowerment, and sharing of best practices across the businesses. PepsiCo expects to triple their businesses in India over the next five years.
PepsiCo (NYSE: PEP) is one of the world's largest food and beverage company, with 2007 annual revenues of more than $39 billion. The Company employs approximately 185,000 people worldwide, and its products are sold in approximately 200 countries. Its principal businesses include: Frito-Lay snacks, Pepsi-Cola beverages, Gatorade sports drinks, Tropicana juices and Quaker foods. The PepsiCo portfolio includes 17 brands that generate $1 billion or more each in annual retail sales.
PepsiCo entered India in 1989 and has grown to become the country's largest selling food and beverage company. One of the largest multinational investors in the country, PepsiCo has established a business which aims to serve the long term dynamic needs of consumers in India. The group has built an expansive beverage, snack food and exports business and to support the operations are the group's 43 bottling plants in India, of which 15 are company owned and 28 are franchisee owned. In addition to this, PepsiCo's Frito Lay snack division has 3 state of the art plants. PepsiCo's business is based on its sustainability vision of making tomorrow better than today. PepsiCo India's commitment to living by this vision every day is visible in its contribution to the country, consumers, farmers and people.
Poonam Kapila/Divya Bakhshi
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