Segun Agbaje, managing director of Guaranty Trust Bank, has been appointed as an independent member of the board of PepsiCo.
In a notice published on the Nasdaq website, the company said Agbaje will join its board and audit company from July 15.
“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,” Ramon Laguarta, PepsiCo chairman and CEO, said.
“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.”
Agbaje joined GT Bank in 1991, held several positions before becoming the MD and CEO at the Bank, including executive director and most recently deputy managing director from 2002 to 2011.
Prior to joining the bank, Agbaje worked as an auditor with Ernst & Young (EY) LLP in the United States from 1988 to 1990.
“We look forward to Segun joining the PepsiCo board and to the valued global perspective he will add to our team,” Daniel Vasella, chair of the PepsiCo board nominating and corporate governance committee, said.
“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.”
Asides his position at GT Bank, Agbaje is also a director of the MasterCard advisory board for the Middle East and Africa.
He holds a bachelor of science degree in accounting and a masters in business administration (MBA) from the University of San Francisco.