Indra Nooyi will step down as CEO, PepsiCo,replced by Ramon Laguarta

Highlights:

  • Indra Krishnamurthy Nooyi will step down as the CEO of PepsiCo after 12 years in the position.
  • She has been taking over the reins of the global giant in 2006.
  • Ms. Nooyi steered the company though the 2008 financial crisis and herself remained in the spotlight as one of the most powerful women on the planet.
  • The 62 year old Ms. Nooyi born in Chennai where she studied at the Madras Christian College.
  • She went to the Indian Institute of Management, Kolkata before coming to the U.S in 1980 for a second master’s degree at the Yale School of Management.
  • In India, she played cricket and was lead guitarist in an all-girl rock band.
  • She has been a relentless champion of India-U.S partnership.
  • Ms. Nooyi is a member of the U.S-India Strategic Partnership Forum (USISPF board.
  • She had earlier served as chair of the US - India Business Council.
  • As CEO, she grew revenue more than 80%, outperforming our peers and adding a new billion-dollar brand almost every other year.
  • And shareholders have benefited: $1,000 invested in PepsiCo in 2006 is worth more than two-and-a-half times that amount today.
  • Ms. Nooyi has been overseeing 260,000 global employees of the company that has under its umbrella, Frito-Lay chips, Tropicana juices, Gatorade, Quaker foods, and several soft drink brands including Pepsi.
  • Ms. Nooyi tried to reposition the company’s image at a time consumers are increasingly wary of junk food. Under her, PepsiCo began focussing on products that include fruits, vegetables, whole grains, nuts, and gave an emphasis on less sugar and fat. She has said this transformation would be a long-drawn one.
  • The 54-year-old Ramon Laguarta will succeed Ms. Nooyi as CEO. 
  • Ms. Nooyi will step down as CEO on October 3, but will remain Chairman until early 2019 to ensure a smooth and seamless transition.