Economy

Indra Nooyi to step down as PepsiCo chief executive

Indra Nooyi to step down as PepsiCo chief executive”

In an interview with the program earlier this year, Nooyi described how different it felt to become CEO compared with other leadership positions. She has directed the company's global strategy for more than a decade and led its restructuring, including the divestiture of its restaurants into the successful YUM!

She also led the acquisition of Tropicana and merger with Quaker Oats, bringing the Quaker and Gatorade businesses to PepsiCo, as well as the acquisition of Wimm-Bill-Dann, the largest worldwide acquisition in PepsiCo's history.

He noted that, under Nooyi, PepsiCo expanded its portfolio of "Good for You" and "Better for You" options from about 38 per cent of revenue in 2006 to about 50 per cent in 2017, while simultaneously nearly tripling the company's investments in research and development to expand more nutritious offerings and minimize its environmental impact.

Nooyi will stay on as Pepsico chairman until early 2019, the company said, in order to ensure a smooth transition to her successor, Pepsico president Ramon Laguarta, reports Forbes.

He also served as CEO of the company's Europe Sub-Saharan Africa division before becoming president.

Commenting on the appointment of Laguarta Nooyi said, "Ramon Laguarta is exactly the right person to build on our success". She also received praise from analysts following her announcement.

At PepsiCo, Nooyi stressed the company's move toward "good for you" options, such as Baked Lay's potato chips and Naked juices made of fruits and vegetables. "Nooyi has been an exemplary CEO and sets the bar high". Shares are down 1.5% this year, compared to a 5% rise in the S&P 500 index.

PepsiCo's shares were up marginally in premarket trading on Monday. In 2014 activist investor Nelson Peltz pushed for Pepsi to spin off its snack business as a separate company. She joined Pepsico in 1994.

Nooyi has worked with the company for 24 years, spending the last 12 years as its CEO. "With demand for soda under pressure, PepsiCo can now take comfort in the fact that it has a balanced portfolio of products".



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