Pepsico India Chairman and CEO D Shivakumar has resigned from the company after serving for nearly four years and will join Aditya Birla Group as the head of strategy and business development.
Shivakumar has been replaced by Ahmed El Sheikh, Senior Vice President and General Manager for PepsiCo Egypt and Jordan, PepsiCo India said in a statement.
"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.
Shivakumar, who is expected to join Aditya Birla Group in three months' time, will report to the Group Chairman Kumar Mangalam Birla.
"He is joining as the Group head of Strategy and Business Development," Aditya Birla Group director (human resources) and chief executive officer, Carbon Black Business, Santrupt B Misra told PTI.
Shivakumar will join the company in "three months or so", Misra said.
Shivakumar's replacement at PepsiCo, Ahmed, will assume his role on November 1, while the former will stay till December 31 as part of the transition process.
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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