PepsiCo on Monday announced that its Chief Executive Officer (CEO) Indra Nooyi will step down on October 3 after 12 long years of leading the US food and beverage giant.
PepsiCo on Monday announced that its Chief Executive Officer (CEO) Indra Nooyi will step down on October 3 after 12 long years of leading the US food and beverage giant.
"After 12 years as CEO, Indra K. Nooyi will step down Oct 3, 2018. Her leadership and vision propelled our performance, transformed our company and embedded sustainability into everything we do. Thank you, @IndraNooyi!" the company tweeted.
President Ramon Laguarta was elected by the board of directors to succeed her. Laguarta was also elected to the board, the company said.
"I'm incredibly proud of all we've done over the past 12 years to advance the interests of our stakeholders in the communities we serve. What I admire about our global team is an incredible drive to compete to be the best, to remain the best," the Chennai-born executive said on Twitter.
"Today is a day of mixed emotions for me. @PepsiCo has been my life for 24 years & part of my heart will always remain here. I'm proud of what we've done & excited for the future. I believe PepsiCo's best days are yet to come," she tweeted.
Among the few executives to break the glass ceiling in corporate America, Nooyi had also scripted history by being among the few India-born females to lead a global giant when she took over the reins at PepsiCo.
1. Indra Nooyi will remain as chairman until early 2019 (Reuters)
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Indra Nooyi, 62, will leave the company on October 3 after 24 years with PepsiCo.
2. Highest paid female CEO (Reuters)
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In 2017, Nooyi was placed at No 2 on the US Fortune's list of 'The Most Powerful Women in Business' outside the US. She also topped the list of highest-paid female CEOs.
3. Nooyi's career
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Nooyi, who was born in Chennai and is now a citizen of the USA, began her two-year term from June 2018. She may be re-appointed for two further terms with a maximum six-year consecutive period of service.
4. A 12-year long stint
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Indra Nooyi had joined PepsiCo in 1994 and became its CEO in 2006. She was awarded Padma Bhushan in 2007.
5. Nooyi's exit
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Nooyi's exit is the latest in a series of high-profile CEO departures in the food and beverage industry
