Close X
Tuesday, December 17, 2024
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

    Mississauga Teen Who Admitted To NYC Terror Plot Asks For ‘Second Chance’

    Mississauga Teen Who Admitted To NYC Terror Plot Asks For ‘Second Chance’
    A Canadian who admitted to plotting a terrorist attack on New York City is pleading for "a second chance" in a letter submitted to the court ahead of his upcoming sentencing.

    Mississauga Teen Who Admitted To NYC Terror Plot Asks For ‘Second Chance’

    Two-Year-Old Girl Wanders Away From Child Care Centre In Newfoundland

    Two-Year-Old Girl Wanders Away From Child Care Centre In Newfoundland
    A Newfoundland family wants a review of daycare regulations after a two-year-old girl who wandered away from a St. John's child care centre was returned unharmed.

    Two-Year-Old Girl Wanders Away From Child Care Centre In Newfoundland

    Trump Tweets That Steel, Aluminum Tariffs Stay Unless There's A New NAFTA Deal

    Trump Tweets That Steel, Aluminum Tariffs Stay Unless There's A New NAFTA Deal
    President Donald Trump issued a pair of early-morning tweets that say American tariffs on imported steel and aluminum will only come off if there's a new NAFTA agreement that's fair to the United States.

    Trump Tweets That Steel, Aluminum Tariffs Stay Unless There's A New NAFTA Deal

    British-Sikh Man HARRY ATHWAL Wins Bravery Award For Helping Barcelona Attack Victim

    British-Sikh Man HARRY ATHWAL Wins Bravery Award For Helping Barcelona Attack Victim
    An Indian-origin Birmingham man, who risked his life to help a fatally injured young boy in the last year's Barcelona terror attack, has been selected for this year's 'Pride of Birmingham' award.

    British-Sikh Man HARRY ATHWAL Wins Bravery Award For Helping Barcelona Attack Victim

    How Sikh Charity Khalsa Aid Is Helping Syrian Refugees - SEE PICS

    How Sikh Charity Khalsa Aid Is Helping Syrian Refugees - SEE PICS
    There are no signs of the civil war in Syria ending anytime soon. The crisis in the country has seen millions of its citizens become refugee in neighbouring countries.

    How Sikh Charity Khalsa Aid Is Helping Syrian Refugees - SEE PICS

    The Latest Fad In The Beauty World - Vampire Facial

    The Latest Fad In The Beauty World - Vampire Facial
    As the name suggests, the facial is considered to be a 'diabolical' beauty ritual, where the person is injected with their own blood for 'wonderful' skin.

    The Latest Fad In The Beauty World - Vampire Facial