PepsiCo CEO Indra Nooyi To Step Down

Wednesday, August 22nd, 2018 | 1256 Views


PepsiCo CEO, Indra Nooyi, To Step Down as PepsiCo’s CEO following more than a decade of strong performance, announced the company’s board of directors.

The company’s board has elected Ramon Laguarta as PepsiCo’s new CEO.

Nooyi is slated to step down on 3rd October but remains chairman until early next year to ensure a smooth and seamless transition. She has been associated with the food and beverage firm for more than 24 years, serving as CEO for the last 12 years of her tenure.

Nooyi said: “Leading PepsiCo has truly been the honour of my lifetime, and I’m incredibly proud of all we have done over the past 12 years to advance the interests not only of shareholders but all our stakeholders in the communities we serve.

Under Nooyi’s leadership, PepsiCo is noted to have delivered strong results.

The company’s net revenue increased from $35 billion in 2006 to $63.5 billion in 2017, representing a compound annual growth rate of 5.5 percent.

Laguarta has been associated with PepsiCo for 22 years and has previously held a number of executive and general management roles within the company. He will become the sixth CEO in PepsiCo’s 53-year history.

 

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