Pepsico India chief D. Shivakumar resigns, to join Aditya Birla Group
India Holdings Pvt. Ltd’s chairman and chief executive officer (CEO) D. Shivakumar has resigned and will be joining Aditya Birla Group as executive vice-president (corporate strategy and business development).
Ahmed El Sheikh, currently senior vicepresident and general manager for Pepsico Egypt and Jordan, will succeed Shivakumar as CEO of Pepsico India, the beverage maker said in a statement.
Aditya Birla Group director (human resources) and CEO, Carbon Black Business, Santrupt B. Misra, confirmed Shivakumar’s appointment.
Shivakumar, who will join over the next three months, will report directly to group chairman Kumar Mangalam Birla.
The $41-billion Aditya Birla Group has businesses spread across sectors including telecommunications, cement, chemicals, mining, textiles, financial services, retail and e-commerce, among others, in 36 countries.
El Sheikh’s appointment as CEO of Pepsico India was announced by the American firm’s CEO (Asia, Middle East and Africa) Sanjeev Chadha.
El Sheikh will join Pepsico India on 1 November and Shivakumar will continue with Pepsico till 31 December, Chadha said. “Shiv has been with Pepsico for the past four years and has been instrumental in leading the transformation journey for the company. Notably, he has been a key driver for portfolio transformation and helped develop our nutrition business, launching winning innovations with our Quaker and Tropicana brands. Under his leadership, we also deepened consumer engagement with our flagship brands. We thank him for his commitment to the company and wish him the best in his future endeavours,” Chadha said in the statement.
Shivakumar did not respond to calls and messages from Mint.
Shivakumar’s decision comes within months of Pepsico’s rival Coca-cola India’s president (India and South-west Asia) Venkatesh Kini deciding to quit in April. Kini was succeeded by T. Krishnakumar.
Shivakumar, who succeeded Manu Anand at Pepsico India, joined the American food and beverage maker a few months after he quit Finnish handset maker Nokia Oyj as a senior executive. At Nokia, Shivakumar was instrumental in pushing the firm’s low-cost mobile handsets across rural India, helping Nokia to dominate the handset market in India for about a decade.
New role: D. Shivakumar will join Aditya Birla Group as executive vice president (corporate strategy and business development).