In line with its earlier resignations, five other senior executives at PepsiCo India have quit the company. A change in corporate strategy seems to be the root of all the walk-outs in India’s leading beverage company.
In recent weeks, Ruchira Jaitly, senior director & category marketing head social beverages; Vidur Vyas, senior director GNG marketing & beverage innovation; Rajiv Mathrani, director and category marketing head-snacks; Pallav Patni, commercial finance head; and Kinjal Choudhary, senior director, human resources, have put in their papers.
On July 4, the Times Of India reported about the exit of PepsiCo India veterans such as, T S R Murali, executive director, R&D, Meghnad Mitra, senior director, planning and strategy, and Sunil Duggal, director of corporate affairs due to the company' s much criticized Power of One (PO1) strategy.
The PO1 strategy has made the company merge its foods and beverages businesses in many markets with the idea that selling food and beverages as part of a single portfolio will give it leverage to take on rivals such as Coca-Cola, which only sells beverages. "The new strategy puts tremendous pressure on executives. Beverage experts now have to sell snacks and beverages both. Similarly, senior executives with large portfolios have suddenly seen their roles shrink," said a senior executive with PepsiCo India.
As per the information sought from sources, Vyas has joined Hike, a messaging platform led by Bharti and Softbank, as VP, marketing, Mathrani has been roped in by Airtel as chief brand officer. Patni has joined Kellogg's India as finance director (CFO), while Kinjal has moved to Amazon India as HR director & head.
"All functions except supply chain and sales had become PO1 two years ago," D Shivakumar, chairman & CEO, PepsiCo India, told TOI. " The retail industry is facing attrition of around 40%. The industry in general is facing an attrition of around 15-20%. We have created larger jobs in sales and marketing."