PepsiCo CEO’s Tall Order: Win Over Investor Calling for Strategy Reset

PepsiCo Chief Executive Ramon Laguarta has spent much of his three decades at the company buying brands and building businesses, amassing a portfolio stretching from soda and chips to ice tea and tortillas.

Laguarta, 62 years old, now faces an activist investor with its own vision for the storied soda maker: slim down.

Elliott Investment Management has amassed a stake in PepsiCo worth roughly $4 billion, The Wall Street Journal reported last week, and the firm has ideas. It has encouraged PepsiCo...

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