The CEO of beverage maker PepsiCo, Ramon Laguarta, on Wednesday, 17th of June, 2020 announced that his company would be investing more than $400 million over a five-year-period to “lift up Black communities and increase Black representation” at the company.
Pepsi CEO, Laguarta said the investment would specifically target leadership roles at the company, OYOGist.com has gathered.
Laguarta is not born in America, but leads one of the country’s biggest manufacturing and distribution giants.
“This is a holistic effort for PepsiCo to walk the talk of a leading corporation and help address the need for systemic change,” Ramon Laguarta said in a LinkedIn post.
Laguarta said in a blog post that his company has been thinking hard on how to dismantle systemic racism in corporate America in the wake of the racism-fueled murder of people of color including George Floyd, Ahmaud Arbery, Breonna Taylor, Rayshard Brooks and many others.
The blog post, titled “PepsiCo’s Journey For Racial Equality” which was published on LinkedIn Pulse, outlines the steps the company’s US corporate establishment would take to drive racial equality at the global giant.
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Pepsico is hoping to take the lead in corporate-led initiative to bridge the astonishingly wide gap in corporate America that is caused by years of systemic racism and has seen people of color earn comparably less and get less employment opportunities.