Indra Nooyi will step down as CEO, says PepsiCo

Marco Green
August 6, 2018

Indra Nooyi, PepsiCo's first female chief executive, is stepping down after 12 years at the helm of the food and beverage behemoth. She spearheaded Pepsi's transition to a greener, more environmentally aware company.

Nooyi was named as Fortune's second most powerful woman in business previous year, coming after chairman and CEO of General Motors, Mary Barra.

Nooyi will step down October 3 after serving 24 years with the company and will remain chairman until early 2019, the company said.

"I'm proud of all we've done to position PepsiCo for success, confident that Ramon and his senior leadership team will continue prudently balancing short-term and long-term priorities", said Nooyi.

Nooyi took to micro-blogging site Twitter to express her "mixed emotions". Guided by our philosophy of Performance with goal - 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. Nooyi, 62, will be replaced by Pepsi's (PEP) global operations chief Ramon Laguarta, 54. "PepsiCo's best days are still ahead of it".

The company's shares have gained 78 per cent since Ms Nooyi took the top job in 2006.

Her departure leaves only 24 women leading Fortune 500 companies, after Beth Ford became the CEO of Land O'Lakes just last week.

Other reports by Click Lancashire

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