To increase its footprint in the area, PepsiCo has named Felix Nnamdi Enwemadu as the new General Manager of its Foods division in Nigeria.
With more than 25 years of expertise in the fast-moving consumer goods (FMCG) industry, Enwemadu has held executive positions at Unilever as the Vice President of Customer Development and Executive Director and at Diageo Brands Limited as the General Manager.
Under Enwemadu’s direction, PepsiCo Foods Nigeria Limited (PFNL) has established a solid presence in the local Nigerian market and will concentrate on providing Nigerian consumers with high-quality products.
PFNL manages the manufacturing of essential goods such as sausage rolls and cereals at its Matori factory in Lagos. This location produces the Quaker brand, which is well-known throughout Nigeria as a wholesome breakfast option.
Additionally, PFNL produces sausage rolls, a well-liked local delicacy, under the Yum Yum brand through Food Concepts Pioneer Limited.
The recent opening of a cutting-edge corporate headquarters in Ikeja, Lagos, further demonstrates PepsiCo’s dedication to investing in the Nigerian market, which is consistent with the appointment.
Enwemadu, had this to say about his new appointment: “As I assume this role, I’m thrilled to lead a dedicated team committed to delivering high-quality products that resonate deeply with our Nigerian consumers.”
To show PepsiCo’s commitment to local sourcing and strengthen the company’s influence in Nigeria, he underlined the importance of the new Ikeja office.
Regarding Enwemadu’s hiring, Paul Andersen, CEO of PepsiCo’s West, Central, and East Africa (WECA) division, added: “With over two decades of proven experience in the West African FMCG market, Felix brings a wealth of expertise to PepsiCo. His deep understanding of the Nigerian consumer landscape, coupled with strong leadership skills, will be instrumental in driving the company’s continued growth and success in the market.”
This change in leadership in Nigeria coincides with PepsiCo’s recent revision of its sales growth projection for fiscal 2024 as it navigates difficulties in other regions.
BrandSpur business and economy news reports that the company pointed to a drop in North American consumer spending, which is mostly the result of rising borrowing costs and inflation, which have caused consumers to gravitate toward less expensive private-label products.
However, PepsiCo reported a 0.6 percent fall in net revenue, or US$23.32 billion, in the third quarter of 2024. The company’s gross profit recorded a 2.7 percent decline, mostly due to a 13 percent drop in sales from its Quaker Foods subsidiary.
