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

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

Indra Nooyi, Pepsico's Indian-origin CEO, will step down after 12 years of leading the United States food and beverage giant, the company announced on Monday. Ramon Laguarta, a 22-year PepsiCo veteran who was promoted to president last year, will take over as the CEO, the company said. She will remain Chairman until early 2019 to ensure a smooth and seamless transition. She is also one of the few minority women to lead major corporations, and her departure sheds new light on the absence of women - and particularly women of color - in some of America's most high-profile corporate roles. Current president Ramon Laguarta will succeed her.

" We've made a more meaningful impact in people's lives than I ever dreamed possible". "But I am proud of all we've done to position PepsiCo for success, confident that Ramon and his senior leadership team will continue prudently balancing short-term and long-term priorities, and excited for all the great things that are in store for this company".

Since September 2017, Laguarta has served as President of PepsiCo, overseeing global operations, corporate strategy, public policy and government affairs. "PepsiCo's best days are still ahead of it".

Nooyi was the first female CEO in the company's history.

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Laguarta will take over from Nooyi on October 3 and will also join the board, the company said in a statement.

PepsiCo's premarket stock price declined slightly after the announcement, CNBC reported.

The company's shares have gained 78 per cent since Ms Nooyi took the top job in 2006.

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