Indra Nooyi to step down as PepsiCo CEO
PepsiCo has confirmed that Indra Nooyi will step down as Chief Executive Officer of the company. Her departure is scheduled for October. Nooyi is going to hand over the reins of the multinational conglomerate to Ramon Laguarta, a 22-year veteran of the company who was elected unanimously by PepsiCo's Board of Directors.
Nooyi has remained as one of the most powerful and influential business leaders in the world, being regularly featured on the power lists compiled by Forbes and Fortune magazines. She was also among the few female executives to lead global corporate giants.
According to a report her departure leaves the S&P 500 on track to have just 23 female CEOs, less than 5 percent of the total.
Nooyi’s impact on PepsiCo cannot be overstated. Over the past decade, she has transformed the company dramatically, expanding its presence in international markets, and also shifting its products increasingly into healthier beverage and snack choices.
Born in Chennai, Nooyi joined PepsiCo in 1994 and held a series of strategy roles before becoming its chief financial officer in 2000, and in 2006 its chief executive. She became PepsiCo's fifth chief executive in its 41-year history, and the first woman.
She was among the first of a handful of India-born executives to helm global corporates.
The company is one of the many consumer goods groups struggling to generate growth from their traditional products as younger shoppers look for healthier, local and more niche goods.
Nooyi chose micro-blogging site Twitter to express her 'mixed emotions’ on this occasion.