Indra Nooyi to step down as PepsiCo CEO

She helmed the company for 12 years
Indra Krishnamurthy Nooyi will step down as the CEO of PepsiCo after 12 years in the position, the company announced on Monday. Taking over the reins of the global giant in 2006, Ms. Nooyi steered the company through the 2008 financial crisis and was in the spotlight as one of the most powerful women in the world. Ms. Nooyi, 62, grew up in Chennai, where she studied at the Madras Christian College. She went to the Indian Institute of Management, Kolkata, In India, she played cricket and was lead guitarist in an all-girl rock band.
“She has been a relentless champion of India-U.S. partnership,” said Mukesh Aghi, president of the U.S-India Strategic Partnership Forum (USISPF).
“She has delivered a strong and consistent financial performance, managing with an eye toward not only the short-run, but the long-run as well. As CEO, she grew revenue more than 80%, outperforming our peers and adding a new billion-dollar brand almost every other year. And shareholders have benefited: $1,000 invested in PepsiCo in 2006 is worth more than two-and-a-half times that amount today,” said Ian Cook, presiding director of the PepsiCo’s Board of Directors.
Fifty-four-year-old Ramon Laguarta will succeed Ms. Nooyi as CEO on October 3. Ms. Nooyi will remain Chairman until early 2019 to ensure a smooth and seamless transition, the company said.
Source : https://www.thehindu.com/todays-paper/nooyi-to-step-down-as-pepsico-ceo/article24618884.ece

About ChinmayaIAS Academy - Current Affairs

Check Also

INDIA-INDONESIA COORDINATED PATROL

CONTEXT: Recently, the 35 edition of India-Indonesia Coordinated Patrol (IND-INDO CORPAT) between the Indian Navy …

Leave a Reply

Your email address will not be published.

Get Free Updates to Crack the Exam!
Subscribe to our Newsletter for free daily updates