Close X
Monday, March 10, 2025
ADVT 
International

Indra K. Nooyi To Quit As PepsiCo CEO; Will Remain Chairman Till Early 2019

IANS, 07 Aug, 2018 12:57 PM
    Indian American business executive Indra K. Nooyi will step down as the Chief Executive of food and beverage major PepsiCo Inc in October, the company said on Monday.
     
     
    According to the US-based multinational, Nooyi, 62, will step down on October 3 after 24 years with the company, the last 12 as the CEO. However, Nooyi will remain the Chairman of the company until early 2019, Pepsico said.
     
     
    She will be succeeded by Ramon Laguarta, 54, as the Chief Executive Officer.
     
     
    "Growing up in India, I never imagined I'd have the opportunity to lead such an extraordinary company," Nooyi was quoted as saying in a company statement. 
     
     
    "Guided by our philosophy of 'Performance with Purpose' - 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.
     
     
    "PepsiCo today is in a strong position for continued growth with its brightest days still ahead."
     
     
    While Nooyi departs, the rest of PepsiCo's senior leadership team will remain unchanged. 
     
     
    Speaking on behalf of PepsiCo's Board of Directors, presiding director Ian Cook said: "As Chairman and CEO, Indra has provided outstanding leadership over the past 12 years, serving as a model both within our industry and beyond for responsible corporate stewardship in the 21st century.
     
     
     
     
    "As CEO, she grew revenue more than 80 per cent, outperforming our peers and adding a new billion-dollar brand almost every other year. And shareholders have benefited: $1,000 invested in PepsiCo in 2006 is worth more than two-and-a-half times that amount today."
     
     
    Cook pointed out that under her leadership the company invested "for the future, leading the way on corporate sustainability and responsibility, and embedding a sense of purpose in everything the company does. 
     
     
    "As one of the first Fortune 100 CEOs to embed sustainability targets into business operations, Indra was a pioneer, paving the way for a new generation of business leaders who seek to 'do well by doing good'.
     
     
    "Under her leadership, PepsiCo grew its portfolio of 'Good for You and Better for You' options from about 38 per cent of revenue in 2006 to roughly 50 per cent in 2017, almost tripled its investments in research and development to expand its more nutritious offerings and minimize its environmental impact, and achieved global recognition for the company's work in communities around the world." 

    MORE International ARTICLES

    After Calling Pakistan Full Of 'Lies And Deceit' Tweet Trump Blocks USD 255 Million Military Aid

    After Calling Pakistan Full Of 'Lies And Deceit' Tweet Trump Blocks USD 255 Million Military Aid
    The United States has suspended its USD 255 million military aid to Pakistan for now, the White House has confirmed, saying the fate of such assistance will depend on Islamabad’s response to terrorism on its soil.

    After Calling Pakistan Full Of 'Lies And Deceit' Tweet Trump Blocks USD 255 Million Military Aid

    2017’s Aww-dorable Proposals That Went Viral

    2017’s Aww-dorable Proposals That Went Viral
    Thinking of popping the question? These men in 2017 have set the bar high so let's look back at few heartwarming wedding proposals of the year.

    2017’s Aww-dorable Proposals That Went Viral

    B.C. Police Investigate Third Deadly 'Targeted' Shooting Within Days

    B.C. Police Investigate Third Deadly 'Targeted' Shooting Within Days
    A 24-year-old man is dead in what British Columbia police say is the third such targeted shooting within a week.

    B.C. Police Investigate Third Deadly 'Targeted' Shooting Within Days

    Surrey RCMP Looking For Man Who Escaped Police Custody While In Hospital

    Surrey RCMP Looking For Man Who Escaped Police Custody While In Hospital
    RCMP in Surrey, B.C., are searching for a man who managed to give his police guard the slip and escape from a Metro Vancouver hospital while still wearing handcuffs.

    Surrey RCMP Looking For Man Who Escaped Police Custody While In Hospital

    Sikh-American Float To Feature 'Langar' In California’s Rose Parade

    A float depicting Sikh tradition of ‘langar sewa’ (community kitchen) will be a part of the upcoming Rose Parade on New Year’s Day in South California.

    Sikh-American Float To Feature 'Langar' In California’s Rose Parade

    Trapped, Tortured In Saudi, Ludhiana Woman Kuldeep Kaur Seeks Sushma Swaraj's Help

    Trapped, Tortured In Saudi, Ludhiana Woman Kuldeep Kaur Seeks Sushma Swaraj's Help
    Her employers, a Saudi couple, trapped her in Dubai since the past six months. They are ill treating her. I request External Affairs Minister Sushma Swaraj to bring her back to India

    Trapped, Tortured In Saudi, Ludhiana Woman Kuldeep Kaur Seeks Sushma Swaraj's Help