PepsiCo, Inc. announced that its Board of Directors has unanimously elected Ramon Laguarta as the company's Chairman of the Board, succeeding Indra K. Nooyi who announced in August 2018 her intention to step down as PepsiCo CEO effective October 3, 2018 and remain Chairman until early 2019 to ensure a smooth and seamless transition. The appointment is effective when Chairman Nooyi retires from the company on February 1, 2019. Laguarta is currently Chief Executive Officer of the global food and beverage company, a role he assumed on October 3, 2018.