Sector News

Pepsico chief executive Indra Nooyi to step down after 12 years in top job

August 6, 2018
Food & Drink

Indra Nooyi, the chief executive of Pepsico, will step down in October, the company announced on Monday, after holding the top job for 12 years.

Nooyi, who was the firm’s fifth chief executive in the group’s 41-year history, will be succeeded by PepsiCo executive Ramon Laguarta.

The 64-year-old Nooyi has been with Pepsico for 24 years, and is a leading figure in an elite group of high-profile female CEOs. She will remain as chairman until early next year.

The 54-year-old Laguarta has held various positions in his 22 years at Pepsico, which is based in Purchase, New York.

He currently serves as president, overseeing global operations, corporate strategy, public policy and government affairs. He previously served as chief executive of the Europe Sub-Saharan Africa region.

Nooyi, who is said to get up at 4am, was born in Madras, now Chennai,and left India at the age of 23 to study at Yale, where she earned her master’s degree in public and private management. She went on to work for Boston Consulting and later Motorola, where she became director of corporate strategy and planning. She joined Pepsico in 1994.

Often choosing to wear the traditional sari at corporate events, Ms Nooyi is proud of her Indian background, once saying: “Although I’m a daughter of India, I’m an American businesswoman.”

She attributes her success to a tough upbringing by her parents and grandfather, who insisted that she always come in the top three in her class at school.

Source: The Guardian

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