PepsiCo CEO Indra Nooyi steps down

PepsiCo CEO Indra Nooyi steps down

She will be succeeded by PepsiCo President Ramon Laguarta. Nooyi was the first female CEO in the company's history.

PepsiCo CEO Indra Nooyi will step down after 12 years of leading the food and beverage giant.

She also described "mixed emotions" about leaving the role.

"Ian Cook, Pepsi's presiding director on its board of directors, in a statement on Monday said", she has delivered strong and consistent financial performance, managing with an eye toward not only the short-run, but the long-run as well".

PepsiCo's Good for You brands include Quaker oatmeal, Sabra hummus, bubly sparkling water and Tropicana and Naked juices.

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Indian-origin Nooyi has been at the helm of the New York-based company for 12 years. Ramon Laguarta, a 22-year PepsiCo veteran who was promoted to president last year, will take over as the CEO, the company said. He previously served as chief executive of the Europe Sub-Saharan Africa region.

He was elevated to president in September of a year ago and was widely expected to succeed Nooyi, though at the time of his appointment Nooyi said she would remain CEO "for the foreseeable future". Since September 2017, he has served as president of PepsiCo, overseeing global operations, corporate strategy, public policy and government affairs.

Before taking her charge in soda behemoth in 2006 (she joined Pepsi in 1994 as a strategist), the 62-year-old had successful stints at companies like Johnson & Johnson in India and later BCG and Motorola. "Her leadership and vision propelled our performance, transformed our company and embedded sustainability into everything we do", PepsiCo said.

Under Nooyi's leadership, PepsiCo's revenue grew more than 80 per cent, outperforming our peers and adding a new billion-dollar brand nearly every other year.

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