Indra Nooyi to step down as PepsiCo CEO

Creating a better capitalism that thinks long term

Creating a better capitalism that thinks long term

When Nooyi took the reigns, she was Pepsi's first foreign-born chief executive. "It was her insistence on building up and maintaining a strong snack business that was most prescient". She earned $31 million last year, and $87 million over the last three years, according to company filings.

Nooyi stressed the company's move toward "good for you" options that people don't feel as guilty eating, such as Baked Lay's potato chips and Naked juices made of fruits and vegetables.

PepsiCo's board of directors unanimously voted in 54-year-old Mr Laguarta, who will take over on 3 October and will also join the board, the company said in a statement.

Nooyi will remain the chairman until early 2019 to ensure a smooth transition, the company said.

Nooyi began her career in India with positions at companies including Johnson & Johnson.

Nooyi went on to Yale School of Management in 1978 and pursued a Master's degree in Public and Private Management.

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Overall, there are now 25 female CEOs including Nooyi in the S&P 500, according to Catalyst, which promotes women in the workplace.

Pepsico announced on Monday that Indra Nooyi will step down as the chief executive officer, on October 3, ending a 24-year run with the organisation, half of which she spent as the company's chief executive.

The packaged food industry has been undergoing major changes through acquisitions, spinoffs and mergers as big companies look for ways to revive slumping revenues. Some of PepsiCo's other brands include Mountain Dew, Tropicana, Gatorade and Quaker Oats.

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.

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

The company said Monday that she'll be succeeded by seasoned PepsiCo executive Ramon Laguarta.

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