PepsiCo CEO Indra Nooyi steps down, Ramon Laguarta to take over

Share
PepsiCo CEO Indra Nooyi steps down, Ramon Laguarta to take over

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

Laguarta, Nooyi successor, has held a number of executive and general management roles in his 22 years at PepsiCo.

In a series of posts on Twitter, the businesswoman referred to her upbringing in India and said she "never imagined" she'd have the opportunity to lead a company like PepsiCo. Sixty-two-year-old Nooyi, who has been a part of the company for 24 years, will continue as the chairman of the board till early next year.

Nooyi led Pepsi to become one of the most successful food and beverage companies in the world. "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", she said in a statement.

"Today is a day of mixed emotions for me".

In a statement, Ian Cook, presiding director of PepsiCo's Board of Directors, lauded Nooyi for 'leading the way on corporate sustainability and responsibility, and embedding a sense of objective in everything the company does'.

"Ramon Laguarta's unanimous appointment follows a systematic and thorough succession process by the Board of Directors".

Laguarta has previously served in leadership positions in PepsiCo's European and sub-Saharan Africa divisions.

He now serves as president, overseeing global operations, corporate strategy, public policy and government affairs.

He was elevated to president in September of past year and was widely expected to succeed Nooyi, though at the time of his appointment Nooyi said she would remain CEO "for the foreseeable future".

With Nooyi's departure, the rest of PepsiCo's senior leadership team will remain unchanged, the company said.

Share

Advertisement

Related Posts

NASA Announces First Crew for Commercial Space Travel
NASA seems confident these dates will hold, and that the commercial crew program is finally on the home stretch. For SpaceX , the Crew Dragon test flight astronauts are spaceflight veterans, Robert Behnken and Doug Hurley .

Bookkeeper: Paul Manafort 'approved every penny' of bills
Bryan United States Courthouse to attend the trial of former Trump campaign chairman Paul Manafort on Tuesday in Alexandria, Va. Prosecutors are giving more insight into how they built their case against former Trump campaign chairman Paul Manafort .

Hurricane Hector is headed toward Hawaii, where a volcano is erupting
At least 700 homes have been destroyed, authorities estimate, and thousands of people have been displaced. On the forecast track, Hector will cross into the central Pacific basin tonight.

Saudi expels Canadian envoy, recalls its own over 'interference'
Among those arrested was Saudi-American women's rights campaigner Samar Badawi. Many others are banned from traveling outside the kingdom.

Donald Trump Dissed Lebron James And People Are Not Happy
It seems Trump's late-night tweet has led to another disagreement between the President and his wife. At the end of the interview, Lemon challenged Trump, a move that perhaps invoked the Trump tweet .

Trump Broke Constitutional Law by Attacking Obamacare, Lawsuit Says
The administration estimates that premiums for a short-term plan could be about one-third the cost of comprehensive coverage. Up to now, short-term health insurance has been a niche product, covering people for several months or less than a year.

Day Four: Accountant Testifies How She Helped Hide Manafort’s Ukraine Income
Prosecutors are heading toward the heart of their financial fraud case against former Trump campaign chairman Paul Manafort . Laporta testified she knew an accounting treatment for a loan was wrong when preparing Manafort's tax return for 2014.

European allies fear United States seeks Iran regime change as it restores sanctions
Remaining sanctions - including on Iran's oil and gas sector and central bank - will resume on Nov 5. Protests broke out on Sunday for a sixth night in Iranian cities, including Kazeroon in the south.

Radio telescope picks up new frequency in space
This means that whatever produced the signal, which has been named "FRB 180725A", is likely to be extremely powerful. Researchers claim that this is the lowest frequency FRB ever recorded emitted from across the universe.

Watch an alleged drone attack on Venezuela’s president sends soldiers fleeing
One showed a cellphone video of a drone hovering over a residential street two blocks away and then crashing into a building. Venezuela , a once-wealthy oil-producing nation, is in the midst of a five-year crisis under Maduro's socialist government.

© 2015 ExpressNewsline. All Rights reserved.