Longtime PepsiCo CEO Indra Nooyi is stepping down

06 August, 2018, 15:43 | Author: Eric Barnett
  • PepsiCo CEO Indra Nooyi poses for a portrait by products at the Tops Super Market in Batavia New York US

Indra Nooyi, Pepsico's Indian-origin CEO, will step down after 12 years of leading the USA food and beverage giant, the company announced on Monday.

Ramon Laguarta, who has been with the company for more than two decades, will take over as CEO in October, the company said Monday.

"Today is a day of mixed emotions for me". She spearheaded Pepsi's transition to a greener, more environmentally aware company. "Growing up in India, I never imagined I'd have the opportunity to lead such an extraordinary company", she said. PepsiCo has been my life for 24 years and part of my heart will always remain here.

"I'm proud of all we've done to position PepsiCo for success, confident that Ramon and his senior leadership team will continue prudently balancing short-term and long-term priorities", said Nooyi. "I believe PepsiCo's best days are yet to come".

A 22-year veteran of PepsiCo, Laguarta oversaw global operations, corporate strategy, public policy and government affairs in his role as president. He previously served as CEO of the Europe Sub-Saharan Africa region.

The company's shares have gained 78 per cent since Ms Nooyi took the top job in 2006.

Under Nooyi's 12-year tenure as CEO, she has boosted sales of the Mountain Dew and Gatorade maker to $63.5 billion, up 80 per cent from when she started.

He was elevated to president in September of a year ago and was widely expected to succeed Nooyi, though at the time of his appointment Nooyi said she would remain CEO "for the foreseeable future".

PepsiCo's premarket stock price declined slightly after the announcement, CNBC reported.



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