PepsiCo Appoints GTBank's Managing Director, Segun Agbaje

PepsiCo, producers of Pepsi and Mountain Dew have appointed the Managing Director of Guaranty Trust Bank (GTBank), Segun Agbaje. The appointment is expected to give the beverage manufacturers a broader view of the complex business environment in sub-Saharan Africa.

PepsiCo appointed Agbaje to join as an independent member of the board of the company to assist PepsiCo in its business strategy for the African market.

According to PepsiCo Chairman and Chief Executive Officer, Ramon Laguarta, he believes Agbaje's experience in the dynamic market in African will come in handy for PepsiCo.

“I am delighted to welcome Segun to the PepsiCo Board. Segun 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,” Laguarta said in a recent statement obtained by AllNews.

Also commenting on the appointment of Agbaje, the chair of the PepsiCo board nominating and corporate governance committee, Daniel Vasella, said, Agbaje's knowledge in new technologies also played a role, "We look forward to Segun 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,” Vasella said in the statement seen by AllNews.

What You Need To Know

Asides from being a member of PepsiCo board, Agbaje is also a director of the MasterCard advisory board for the Middle East and Africa. Agbaje has a bachelor of science degree in accounting and a master's in business administration (MBA) from the University of San Francisco.

Note that before Agbaje became the Managing Director of GTBank, he occupied other positions in GTBank, which included executive director and Deputy Managing Director from 2002 to 2011. He also worked at Ernst & Young (EY) LLP in the United States from 1988 to 1990 as an auditor.