PepsiCo, Inc. announced that its Board of Directors has elected Segun Agbaje, Managing Director and Chief Executive Officer of Guaranty Trust Bank Plc, as an independent member of its board.

Segun Agbaje will sit on the Board and the Audit Committee in a non-executive position from July 15, 2020 the group confirmed in a statement released on Tuesday.

PepsiCo Chairman and CEO, Ramon Laguarta said,

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.

The chairman of the Board’s Nominating and Corporate Governance Committee, Daniel Vasella, said,

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.

Agbaje, who has a Bachelor of Science in Accounting and a Masters in Business Administration, began working at Guaranty Trust Bank Plc in 1991 and has held several positions including Executive Director and Deputy Managing Director, before becoming the Managing Director and Chief Executive Officer of the bank in 2011. He also worked as an auditor for Ernst & Young LLP in the United States from 1988 to 1990.

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

Photo Credit: @gtbank