PepsiCo Adds New Independent Member To Its Board Of Directors

PepsiCo has announced the appointment of Segun Agbaje as a new independent member to its board of directors, effective 15 July.

Agbaje will also be a part of the company’s audit committee, PepsiCo added.

Presently, he serves as the managing director and chief executive of Guaranty Trust Bank plc, a Nigerian multinational financial institution.

Before assuming the role of managing director in 2011, he held several positions at the bank including that of executive director and deputy managing director.

Agbaje also serves as a director of MasterCard Advisory Board Middle East and Africa.

From 1988 to 1990, he served as an auditor for Ernst & Young LLP in the United States.

'Proven Business Leader'

PepsiCo Chairman and CEO, Ramon Laguarta, welcomed Agbaje to the board and commented, “Segun [Agbaje] is a well-respected and proven business leader with a deep understanding of complex businesses and fast-growing markets, particularly Sub-Saharan Africa where we recently acquired Pioneer Foods as part of our strategy to expand in the region.

“His experience in business transformation and passion for delivering consumer value will serve PepsiCo well as we continue our journey to be the global leader in convenient foods and beverages by winning with purpose."

He holds a bachelor of science degree in accounting and a master's in business administration from the University of San Francisco.

'Global Perspective'

Daniel Vasella, chair of the board's nominating and corporate governance committee, said, “We look forward to Segun [Agbaje] joining the PepsiCo Board and to the valued global perspective he will add to our team.”

“His knowledge and experience of embracing and scaling new technologies and critical capabilities will be valuable as we continue to invest in opportunities that create shareholder value and deliver long-term sustainable growth."