Economy

Indra K. Nooyi is stepping down as Pepsi’s CEO

Indra K. Nooyi is stepping down as Pepsi’s CEO

"I think people like me, after we leave privileged CEO jobs, I don't think we can go silent", she said. Previously, he served as CEO of the company's Europe Sub-Saharan Africa division, described by PepsiCo as one of its "most complex.with operations spanning three continents" and comprising developed, developing and emerging markets. In 2014, she was ranked at number 13 on the Forbes list of The World's 100 Most Powerful Women and was ranked the 2nd most powerful woman on the Fortune list in 2015.

Indra Nooyi, one of the most prominent female CEOs, will step down as head of PepsiCo following 12 years navigating the soft drinks and snacks company through a tricky climate of often unpredictable consumer preferences on health and sustainability. The company's board announced Monday that it elected Ramon Laguarta, president of the company since 2017, to succeed her as CEO.

Often choosing to wear the traditional sari at corporate events, Ms Nooyi is proud of her Indian background, once saying: "Although I'm a daughter of India, I'm an American businesswoman". She drove the company a dozen years through a changing landscape. She will remain as chairman until early next year.

During Nooyi's 12-year tenure as CEO, PepsiCo focused on healthier drinks as sales of its signature Pepsi-Cola declined.

Trump says his son sought information on Clinton from Russians in 2016
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Laguarta, who starts on October 3, will be tasked with managing the company's response as consumer tastes move away from sugary drinks. "She has transformed the company with her bold vision and outstanding leadership, and I feel fortunate to have her as a mentor and a friend", said Laguarta.

Nooyi, who took over as chief executive of PepsiCo in 2006, has resisted calls by an activist investor to spin off the company's beverage business, which has struggled in North America, from its better-performing Frito-Lay snacks business. A high-profile bid in 2015 to reformulate Diet Pepsi led to lower sales, and the company revived its old formula a year later.

"As CEO, she grew revenue more than 80%, outperforming our peers and adding a new billion-dollar brand nearly every other year". The hedge fund exited its stake in 2016. And Good For You includes foods such as Quaker Oats oatmeal, Sabra hummus and Naked Juice smoothies.


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