PepsiCo CEO Indra Nooyi to step down after 12 years at helm

NEW DELHI: Long-serving PepsiCo chief executive officer (CEO) Indra Nooyi is going to step down from her position, the company said on Monday.
Indian-origin Nooyi has been at the helm of the New York-based company for 12 years.
PepsiCo president Ramon Laguarta will replace Nooyi, the food and beverage company added.
“Board of Directors has unanimously elected Ramon Laguarta, 54, to succeed Indra K. Nooyi, 62, as Chief Executive Officer,” the statement said.
The 62-year-old IIM-Calcutta and Yale alumnus is often credited with working towards making Pepsico’s offerings healthier.
“Nooyi will step down on October 3rd after 24 years with the company, the last 12 as CEO. She will remain Chairman until early 2019 to ensure a smooth and seamless transition. Laguarta was also elected to the company’s Board of Directors, effective October 3rd,” the statement also said.
Reflecting upon her stint Nooyi said, “Leading PepsiCo has truly been the honor of my lifetime, and I’m incredibly proud of all we have done over the past 12 years to advance the interests not only of shareholders, but all our stakeholders in the communities we serve.”
The Chennai-born Madras Christian College graduate who also holds the distinction of being the first independent woman director of the International Cricket Council (ICC) joined PepsiCo in 1994 as Senior Vice President, Corporate Strategic Planning before taking over the top job in 2006.
Speaking on her successor, Nooyi said : “Ramon Laguarta is exactly the right person to build on our success. He is a terrific executive with a long and proven track record of growing businesses. He has a deep understanding of the changing preferences of consumers and other critical trends unfolding around the world, and he has demonstrated that he knows how to navigate them successfully. Ramon has been a critical partner in running the company, and I’m confident he will take PepsiCo to new and greater heights in the years to come.”