Beverages and food major Pepsico India today said its Chairman and Chief Executive Officer (CEO) D Shivakumar has resigned from the company after serving for nearly four years.
According to various media reports, Sivakumar will join the Aditya Birla Group as the group executive president in January and will report directly to Chairman Kumar Mangalam Birla.
Shivakumar has been replaced by Ahmed El Sheikh, Senior Vice President and General Manager for PepsiCo Egypt and Jordan, PepsiCo India said in a statement.
Ahmed will assume his role on November 1, while Shivakumar will stay with PepsiCo till December 31 as part of the transition process.
"Shiv has been with PepsiCo for the past four years and has been instrumental in leading the transformation journey for the company," Pepsico CEO Asia, Middle East and North Africa (AMENA) Sector Sanjeev Chadha said.
Ahmed, who held leadership roles in both foods and beverages businesses, led the Egypt business in his last stint.
"I have every confidence that Ahmed, together with our winning India leadership team, will prove to be a very powerful combination for the future success of PepsiCo India," Chadha said.
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