Pepsi CEO, Indra Nooyi, steps down after 12 years

06 August, 2018, 17:39 | Author: Brooke Harris
  • PepsiCo Indra Nooyi PepsiCo Pepsi Co demonetisation Demonetisation Indra Nooyi Pepsi Co loss demonetisation CPG losses demonetisation Pepsi Co currency demonetisation Indra Nooyi Pepsi Co losses Business news

PepsiCo Inc said on Monday Indra Nooyi would step down as its longtime chief executive officer, handing over the reins to company veteran Ramon Laguarta at a time the beverage maker navigates a shrinking global soda market.

PepsiCo president Ramon Laguarta will replace Nooyi, the company added.

Taking to social media, Nooyi shared some emotional posts with the people elaborating her time with the company and stated how she never imagined leading the company.

She will remain the chairman until early 2019.

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She also described "mixed emotions" about leaving the role. "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 best days are still ahead of it".

While many congratulated Nooyi on successfully leading the company for several years, others expressed sorrow over the decision.

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Indian-origin Nooyi has been at the helm of the New York-based company for 12 years.

"Ramon (Laguarta) has been a critical partner in running the company, and I'm confident he will take PepsiCo to new and greater heights in the years to come", she said of her successor.

Laguarta has previously served in leadership positions in PepsiCo's European and sub-Saharan Africa divisions.

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.

Earlier this year, Indra Nooyi was named the first independent female director of the International Cricket Council (ICC). Since September 2017, he has served as president of PepsiCo, overseeing global operations, corporate strategy, public policy and government affairs. "She has transformed the company with her bold vision and outstanding leadership, and I feel fortunate to have her as a mentor and a friend".

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