PepsiCo's Indra Nooyi To Step Down As CEO After 12 Years

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Nooyi, who was born in India, is the first foreign-born CEO of PepsiCo and the first woman to lead the multinational food and beverage corporation, whose revenue topped $63 billion previous year, according to Bloomberg. "Growing up in India, I never imagined I'd have the opportunity to lead such an extraordinary company", she said.

Nooyi will stay on as Pepsico chairman until early 2019, the company said, in order to ensure a smooth transition to her successor, Pepsico president Ramon Laguarta, reports Forbes.

Indra Nooyi to step down as PepsiCo CEO
Pepsico chief executive Indra Nooyi to step down after 12 years in top job

PepsiCo CEO and Chairman Indra Krishnamurthy Nooyi will step down on October 3, after a 12-year stint. The 54-year-old Laguarta was also elected to the company's Board of Directors, effective October 3.

"Guided by our philosophy of Performance with objective - delivering sustained performance while making more nutritious products, limiting our environmental footprint and lifting up all the communities we serve - we've made a more meaningful impact in people's lives than I ever dreamed possible", she said.

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A 22-year veteran of PepsiCo, Mr Laguarta oversaw global operations, corporate strategy, public policy and government affairs in his role as president.

A file photo of Indra Nooyi.

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"Ramon Laguarta is exactly the right person to help build on @PepsiCo's strong position and success". Sales grew 80% during her 12-year tenure. Between 2007 and 2017, revenue at Pepsico has risen about 61 per cent. About $79.4 billion in cash has been returned to shareholders through dividends and share repurchases from 2006 through the end of 2017.

"Her leadership and vision propelled our performance, transformed our company and embedded sustainability into everything we do", PepsiCo said. "I believe PepsiCo's best days are yet to come".

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