Indra Nooyi to step down as PepsiCo chief executive

Lloyd Doyle
August 6, 2018

Nooyi will stay on as chairman until early 2019 after 24 years with the company.

Indra Nooyi, PepsiCo's first female chief executive, is stepping down after 12 years at the helm of the food and beverage behemoth.

Laguarta will take over on October 3 and will also join the board, the company said in a statement.

He now serves as president, overseeing global operations, corporate strategy, public policy and government affairs. Current president Ramon Laguarta will succeed her. She spearheaded Pepsi's transition to a greener, more environmentally aware company.

In a statement, Nooyi said: "Growing up in India, I never imagined I'd have the opportunity to lead such an extraordinary company".

Long-serving PepsiCo chief executive officer (CEO) Indra Nooyi is going to step down from her position, the company said on Monday. He has also served as CEO of the company's Europe Sub-Saharan Africa division.

Later taking to Twitter, she said, "Today is a day of mixed emotions for me".

She praised her successor, calling him "exactly the right person to build on our success".

Nooyi was named as Fortune's second most powerful woman in business past year, coming after chairman and CEO of General Motors, Mary Barra. 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. According to CNBC, PepsiCo's premarket stock price declined slightly after the announcement.

Other reports by Iphone Fresh

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