Indra Nooyi to step down as PepsiCo chief executive

PepsiCo's Indra Nooyi To Step Down As CEO After 12 Years

PepsiCo's Indra Nooyi To Step Down As CEO After 12 Years

Nooyi's exit is the latest in a series of high-profile CEO departures in the food and beverage industry, as big brands lose shelf space to smaller, trendier entrants and established players scramble for growth.

"I think people like me, after we leave privileged CEO jobs, I don't think we can go silent", she said. Previous roles include CEO, Europe Sub-Saharan Africa, president, PepsiCo Eastern Europe Region; commercial vice president for PepsiCo Europe; general manager for Iberia Snacks and Juices; and general manager for Greece Snacks.

In 2017, Nooyi was placed at No 2 on the US Fortune's list of "The Most Powerful Women in Business" outside the US.

"Nooyi will step down on October 3rd after 24 years with the company, the last 12 as CEO". It was in 1994 that the female executive joined PepsiCo, the second largest food and beverage business in the world by net revenue, as senior vice-president of corporate strategy and development.

Often choosing to wear the traditional sari at corporate events, Ms Nooyi is proud of her Indian background, once saying: "Although I'm a daughter of India, I'm an American businesswoman". During her 12 year tenure alone, teh company recorded a growth of a whopping 80%. Nooyi will remain as the chairman till early 2019.

The longtime PepsiCo CEO Indra Nooyi is stepping down.

"Her leadership and vision propelled our performance, transformed our company and embedded sustainability into everything we do".

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

She reclassified PepsiCo's products into three categories: "fun for you" (such as potato chips and regular soda), "better for you" (diet or low-fat versions of snacks and sodas), and "good for you" (items such as oatmeal).

Nooyi took over as chief executive of PepsiCo in October 2006. Since late 2017, he has served as President of PepsiCo, overseeing the company's global operations.

She has also bolstered its portfolio of healthier offerings, which now account for almost half of its sales, compared with about 38 percent in 2006, better aligning its portfolio with evolving consumer tastes, according to Morningstar analyst Sonia Vora.

In 2000, Nooyi was promoted to chief financial officer due to her impressive work and two years later, she became the fifth CEO in the company after the retirement of Steve Reinemund. Pepsi was rebuffed in 2016 in its attempt to take a major stake in Chobani, the Greek-yogurt maker.

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