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PepsiCo India Chairman and CEO D Shivakumar has quit the company and will be joining the Aditya Birla group as President for Strategy and Business Development, in Mumbai.
Ahmed El Sheikh, Senior Vice-President and General Manager for PepsiCo Egypt and Jordan, has been named CEO of PepsiCo India, says a statement from Sanjeev Chadha, CEO, AMENA sector, PepsiCo.
The carbonated soft drinks sector is under pressure amid low growth and Shivakumar’s departure comes close on the heels of a change of guard at rival Coca-Cola India, which saw Venkatesh Kini quit as CEO.
Shivakumar, who headed PepsiCo for almost four years — he joined in December 2013 — was instrumental in leading the transformation of the company’s nutrition business, said Chadha.
He will join the executive team of the Aditya Birla group and will be reporting to Chairman Kumar Mangalam Birla.
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