Indra Nooyi steps down as PepsiCo’s CEO after serving for 12 years

Image Source: Change.org

Aug 7, 2018

After heading the world’s second-largest food and beverage giant – PepsiCo- Indra Nooyi will step down as its CEO after serving for 12 years. Nooyi, 62, will leave the company on October 3 after 24 years with PepsiCo. She will remain as chairman until early 2019.

President Ramon Laguarta was elected by the board of directors to succeed her. Laguarta was also elected to the board.

Nooyi, one of the worlds most powerful and influential business leaders, who stated that she is incredibly proud of all that has been achieved in the past 12 years and her global team is an incredible drive to compete to be the best, to remain the best.

Nooyi is among the few to lead a global giant when she took over the reins at PepsiCo. The company today is in a strong position for continued growth with its brightest days still ahead. Though it is not immediately clear why Nooyi decided to step down. During her tenure, Nooyi also focused on corporate sustainability and responsibility.

Laguarta, a 54-year veteran of the company, has been president since September, overseeing global operations, and corporate strategy, public policy and government affairs. Prior to that, Laguarta served in leadership positions in the European and sub-Saharan Africa divisions.

In 2017, Nooyi was placed at No 2 on the US Fortune’s list of ‘The Most Powerful Women in Business’ outside the US. She also topped the list of highest-paid female CEOs.

Nooyi joins several other prominent women CEOs, including Campbell Soup’s Denise Morrison, Hewlett Packard’s Meg Whitman and Mondelez’s Irene Rosenfeld, who have left their roles recently.

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