PepsiCo Middle East CEO: Sustainability at the ‘core’ of its strategy

PepsiCo Middle East CEO Aamer Sheikh.
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Updated 19 February 2023
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PepsiCo Middle East CEO: Sustainability at the ‘core’ of its strategy

  • PepsiCo aims to exchange know-how and best practices in the mission of promoting sustainable development

RIYADH: PepsiCo Middle East CEO Aamer Sheikh highlighted the company’s 100 percent local and regional water replenishment initiatives as a part of its sustainability goals on the sidelines of the second edition of the LEAP tech conference in Riyadh.

“What other companies have done is talk about sustainability. What PepsiCo has done is put sustainability at the core of its strategy. To be the leading global company in beverages and convenient foods, you have to do it while taking into account all the sustainability elements that come into play,” Sheikh told Arab News.

“When we talk about water conservation, we want to give back to the communities the amount of water we take. In our Riyadh plant, we are actually replenishing 100 percent of the water. And that simply means whatever water we use, we are working with the regional growers and the farmers to bring our best practices for them to be able to save an equivalent amount of water in their practices,” Sheikh explained.

Sheikh added that through their sustainability initiatives, they also aim to exchange know-how and best practices in the mission of promoting sustainable development.

“We are investing in technologies that are more efficient in using water. Our beverage franchise partner, Aljomaih in Riyadh, invested $10 million over the last five years. That reduces water consumption by 40 percent,” he explained.

As a part of the LEAP conference, PepsiCo also discussed its future ambition to embrace the digital revolution through the use of artificial intelligence.

“We are looking across all aspects of our value chain (to find out how we can) embrace and digitalize our organization at a much faster pace than what we have done in the past,” Sheikh said.

The PepsiCo CEO expressed the company’s mission in participating in the Kingdom’s transformation in line with Vision 2030.

“Saudi Arabia is going through a very unique transformation at this point in time, and our objective is to really embed PepsiCo in the fabric of the society. So, if you notice, we are showing up in all the key events. We are participating in all the major events, whether it’s Riyadh Season, Jeddah Season or Formula E Grand Prix,” he said.

“Our objective is to make sure that PepsiCo, through the power of its brands, is participating in the transformation that is taking place in Saudi,” Sheikh added.

Through its initiatives, he said, the company aims to educate the public on what it is doing to “drive a more sustainable organization and environment” and encourage “others to join in as well.”
 


Closing Bell: Saudi main index slips to close at 11,228 

Updated 51 min 41 sec ago
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Closing Bell: Saudi main index slips to close at 11,228 

RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Sunday, lost 23.17 points, or 0.21 percent, to close at 11,228.64. 

The total trading turnover of the benchmark index was SR2.99 billion ($797 million), as 170 of the stocks advanced and 82 retreated.    

On the other hand, the Kingdom’s parallel market Nomu gained 449.38 points, or 1.90 percent, to close at 24,093.12. This comes as 43 of the stocks advanced while 27 retreated.    

The MSCI Tadawul Index lost 6.07 points, or 0.40 percent, to close at 1,511.36.     

The best-performing stock of the day was Obeikan Glass Co., whose share price surged 7.54 percent to SR27.66.  

Other top performers included Alamar Foods Co., whose share price rose 6.80 percent to SR47.10, as well as Saudi Kayan Petrochemical Co., whose share price climbed 6.79 percent to SR5.66.   

Saudi Investment Bank recorded the steepest drop, falling 3.21 percent to SR13.56. 

Jahez International Co. for Information System Technology also saw its share price fall 3.15 percent to SR13.55. 

Rabigh Refining and Petrochemical Co. declined 2.78 percent to SR7.34. 

On the announcements front, Tanmiah Food Co. reported its annual financial results for the period ending Dec. 31. According to a Tadawul statement, the company recorded a net loss of SR18.8 million, compared with a net profit of SR95.8 million a year earlier. 

The net loss was mainly due to ongoing market challenges that resulted in continued pricing pressures in fresh poultry, inflationary cost pressures, higher financing expenses, and depreciation and ramp-up costs from new facilities, partially offset by increased production volumes and cost-optimization initiatives.  

Tanmiah Food Co. ended the session at SR58.20, up 3.72 percent. 

United International Holding Co., also known as Tas’heel, announced its annual financial results for the period ending Dec. 31. A bourse filing showed the company recorded a net profit of SR273.64 million in 2025, up 23.05 percent from 2024, primarily driven by a 23.4 percent rise in revenues. The revenue growth helped lift gross profit by 23.7 percent. 

Tas’heel ended the session at SR146.80, down 0.28 percent.