Business

Indra Nooyi To Step Down As PepsiCo CEO After 12 Years

JAVED SAIFI | 0
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| August 6 , 2018 , 20:08 IST

PepsiCo Chief Executive Indra K Nooyi will step down from the post after long 12 years, the company announced on Monday. 

In a press release, PepsiCo said, “The board of directors has unanimously elected Ramon Laguarta to succeed Indra K. Nooyi as CEO. Nooyi will step down on October 3rd after 24 years with the company and 12 years as CEO.”

54 years old multilingual Ramon Laguarta has been a veteran at PepsiCo and has been at the helm of its crucial wings in 22 years of his service to the company.

“She will remain chairman until early 2019 to ensure a smooth and seamless transition. Laguarta was also elected to the company's Board of Directors, effective October 3," the statement reads.

Nooyi expressed her happiness and said, “I am incredibly proud of all we have done over the past 12 years to advance the interests of our stakeholders in the communities we serve.  What I admire about our global team is an incredible drive to compete to be the best, to remain the best.”

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Under the leadership of Nooyi PepsiCo has delivered magnificent results. 

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.”

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