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

06 August, 2018, 16:26 | Author: Billie Castillo
  • PepsiCo's Indra Nooyi To Step Down As CEO After 12 Years

The company announced that its Board of Directors has unanimously elected Ramon Laguarta to succeed Nooyi as Chief Executive Officer.

Nooyi, who was born in India, is the first foreign-born CEO of PepsiCo and the first woman to lead the multinational food and beverage corporation, whose revenue topped $63 billion a year ago, according to Bloomberg.

Nooyi will step down October 3 after serving 24 years with the company and will remain chairman until early 2019, the company said.

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".

Laguarta was also elected to the company's board of directors, effective from October 3, 2018. She spearheaded Pepsi's transition to a greener, more environmentally aware company.

Elderly Men Leave Nursing Home To Go To World's Biggest Metal Festival
This year's edition of Wacken fest was sold out, with more than 75,000 metal fans flocking to the venue from all across the world. The pair was eventually found at the Wacken Open Air festival at around 3 a.m. local time.

Laguarta, a 22-year veteran of the company, has been president since September, overseeing global operations, corporate strategy, public policy and government affairs.

Nooyi steered PepsiCo a dozen years through the changing landscape.

He also served as CEO of the company's Europe Sub-Saharan Africa division before becoming president. "Ramon has been a critical partner in running the company, and I'm confident he will take PepsiCo to new and greater heights in the years to come", Nooyi said about her successor. "PepsiCo today is in a strong position for continued growth with its brightest days still ahead". He is a terrific executive with a long and proven track record of growing businesses.

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%.

Indra Nooyi spent 24 years at PepsiCo.



Major virus infection shuts down factories of iPhone chip-maker TSMC
TSMC said in its update on August 5 to the development of the incident that it expects full recovery of production on August 6. TMSC is the largest semiconductor manufacturer in the world and is responsible for producing iPhone processors for Apple .

Tumultuous Iran braces for return of USA sanctions
Iran says the sanctions are endangering lives by blocking the sale of new planes and spare parts for its ageing fleets. On Monday, trade sanctions resume on the import of Iranian products, such as carpets and pistachios.

Meet NASA's New Astronauts Flying SpaceX And Boeing Ships to Space
The astronauts will be the first Americans to launch into orbit from US soil since NASA's space shuttle program shut down in 2011. Victor Glover , 42, and Michael Hopkins , 49, will launch on the premier operational mission of SpaceX's crewed Dragon .

Manafort trial day 4: Bank fraud and bookkeepers
No. 3 Senate GOP leader John Thune of South Dakota said, "The idea that they should truncate it doesn't make sense to me". Gates has pled guilty to several charges that Mueller brought against him, and he's cooperating with the Mueller probe.

Derek McInnes: 'Rangers striker Alfredo Morelos deserved red card'
What are your thoughts on Steven Gerrard's comments? Gutted for the players to concede so late on but we showed we were a class above Aberdeen . "I think you'll find today both teams will be exhausted ".

Radio telescope near Penticton, B.C., opening new doors in astrophysics
Fast radio bursts are not uncommon, but are considered special because no one knows what their sources are. No one knows what this mysterious signal is, where it came from, or why it suddenly crossed Earth's radar.

11 children rescued from makeshift New Mexico compound
Two men from Georgia were arrested during the search, as were three woman believed to be the children's mothers. Clayton County Police and FBI investigators are continuing their search for the child.

People Arrested After Assassination Attempt on Venezuelan President Nicolas Maduro
A Colombian official with the president's office described Maduro's accusation that Santos was involved as baseless. Venezuela's government routinely accuses opposition activists of plotting to attack and overthrow Maduro.

John Kasich: GOP Candidate Said He Didn't Invite Trump To Ohio Rally
Hutchinson, who a full-throated endorsement of Trump at the 2016 Republican National Convention, is in the sparse opinion polls. Trump meant to give his endorsement to OH state senator Troy Balderson, the Republican nominee for the seat .

England hope Sam Curran can carry-on against India
The senior pacer has been in the Test set-up for a decade now and this series could be the one where he makes a serious impact. Therefore, Ashwin ideal outing on the first day of the long five-match series has helped India to put their noses in front.