PepsiCo Inc.'s Indian operations president Manu Anand quit his position today after serving the globally iconic snack food producer for 19 years.
PepsiCo stated in an e-mail today that "leaving PepsiCo is Manu's personal decision." It has absolutely nothing to do with performance. PepsiCo is one of the largest food and beverage businesses in India and has been consistently witnessing double digit volume growth."
Anand was promoted as PepsiCo's Indian arm in July 2011. The position is left vacant and there are no names announced as of the moment.
PepsiCo Inc. recently increased its efforts to campaign in the world's second most populous nation. The company planned to spend about $66.7 million in a span of five years. Part of its drive is to finance the world's richest cricket tourney to be held in India, the Indian Premiere League.
PepsiCo shares ended after dipping 2.5 percent lower ($78.91) in New York trading.
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