Published: Mon, August 06, 2018
Economy | By

Indra Nooyi to step down as PepsiCo CEO, Ramon Laguarta to succeed

Indra Nooyi to step down as PepsiCo CEO, Ramon Laguarta to succeed

Nooyi will remain chairman of the board until early 2019.

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

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

PepsiCo Inc. on Monday said that Indra Nooyi will step down as chief executive officer of the company, effective 3 October.

Nooyi became CEO in 2006.


Reflecting upon her stint Nooyi said, "Leading PepsiCo has truly been the honor 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".

Under her leadership, PepsiCo has seen net revenue growth from $35bn in 2006 to $63.5bn in 2017: a compound annual growth rate of 5.5%.

He now serves as president, overseeing global operations, corporate strategy, public policy and government affairs. Dividends per share almost tripled from $1.16 in 2006 to $3.17 in 2017 and a compound annual growth rate of almost 10%, according to a PepsiCo statement.

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 is also largely credited with re-shaping Pepsi with tactical mergers and shifting to healthier drinks over sugary sodas - moving to juices and teas. Under her chairmanship, the company also improved in environmental sustainability metrics.

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