After 12 Years Indra Nooyi Steps Down From CEO Of PepsiCo

PepsiCo Inc. on Monday said that Indra Nooyi will step down as chief executive officer of the company, effective 3 October. The board of directors elected Ramon Laguarta, who has been with the company for 22 years, to succeed Nooyi as CEO.

Nooyi, who has serve PepsiCo for 24 years, will remain chairman of the company until early 2019 to ensure a smooth and seamless transition.

“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,” said presiding director Ian Cook. “She has delivered strong and consistent financial performance, managing with an eye toward not only the short-run, but the long-run as well.”

“Under her leadership, PepsiCo grew its portfolio of Good for You and Better for You options from about 38% of revenue in 2006 to roughly 50% 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,“ Cook added.

Laguarta has held a number of executive and general management roles in his 22 years at PepsiCo. Since September 2017, Laguarta has served as President of PepsiCo, overseeing global operations, corporate strategy, public policy and government affairs.