PepsiCo India is reportedly gearing up for a leadership change, with George Kovoor, the current Senior Vice President and General Manager of Beverages, likely to be appointed as the new President. The move comes as Ahmed ElSheikh, the incumbent, is expected to transition to a global role within the American food and beverage giant early next year.
George Kovoor, who has been in his current role since January 2022, boasts a remarkable three-decade association with PepsiCo, having held various leadership operating roles in Asia-Pacific, China, and New York. He returned to India after 18 years and played a pivotal role in crafting the company’s long-term sustainability strategy for the Indian market.
Sources with knowledge of the matter indicate that the leadership change is imminent and is anticipated to be officially announced in the coming months. This shift is seen as strategically timed given the intensifying competition in the soft drinks and packaged foods sectors, with emerging players, direct-to-consumer brands, and smaller regional competitors posing challenges to national brands.
Ahmed ElSheikh, the current leader of PepsiCo India and the first expatriate to hold the position, has been instrumental in significant initiatives, including the national refranchising of company-owned bottling operations in southern and western regions to Varun Beverages Ltd. (VBL) in 2019. VBL, owned by Ravi Jaipuria, now manages franchise bottling in the northern and eastern regions, contributing to 90% of beverage sales volume for PepsiCo India.
PepsiCo India reported robust revenue of Rs 8,128 crore for the fiscal year ending March 2023, reflecting a 29% year-on-year increase. The growth was fuelled by strong out-of-home demand and increased rural demand, supported by electrification and distribution expansion.