ibusinesslines.com August 16, 2018

Pepsi's first female CEO is stepping down after 12 years

06 August 2018, 05:43 | Kelvin Horton

Indra Nooyi will step down as Pepsi Co CEO on October 3

Indra Nooyi will step down as Pepsi Co CEO on October 3

She will be succeeded by PepsiCo President Ramon Laguarta.

Taking to social media, Nooyi shared some emotional posts with the people elaborating her time with the company and stated how she never imagined leading the company.

Nooyi has worked with the company for 24 years, spending the last 12 years as its CEO.

Fortune credits Nooyi with moving PepsiCo's portfolio towards healthier fare: and PepsiCo has grown its portfolio of "Good for You" and "Better for You" options from about 38% of revenue in 2006 to roughly 50% in 2017.

Ramon Laguarta, who has been with the company for more than two decades, will take over as CEO in October, the company said Monday.

'Today is a day of mixed emotions for me.

"Ian Cook, Pepsi's presiding director on its board of directors, in a statement on Monday said", she has delivered strong and consistent financial performance, managing with an eye toward not only the short-run, but the long-run as well".

Laguarta, Nooyi's successor, has served as president of PepsiCo since September 2017, overseeing global operations, corporate strategy, public policy and government affairs.

PepsiCo's Good for You brands include Quaker oatmeal, Sabra hummus, bubly sparkling water and Tropicana and Naked juices. Previously, Laguarta served as chief executive officer, Europe Sub-Saharan Africa.

Nooyi, 62, will leave the CEO role on October 3.

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

"With a deep understanding of PepsiCo's worldwide operations, and a broader understanding of the total company portfolio in his role as president, we believe that Laguarta is well-placed to continue executing on PepsiCo's current strategy", analysts at Cowen & Co said.

PepsiCo's shares were up marginally in premarket trading on Monday.

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