Economy

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

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

When Nooyi took the reigns, she was Pepsi's first foreign-born chief executive. Her run will end on October 3rd after 24 years with the company. She will be replaced by Ramon Laguarta.

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. Guided by our philosophy of Performance with goal - delivering sustained performance while making more nutritious products, limiting our environmental footprint and lifting up all the communities we serve - we've made a more meaningful impact in people's lives than I ever dreamed possible.

PepsiCo CEO Indra Nooyi poses for a portrait by products at the Tops SuperMarket in NY.

"Today is a day of mixed emotions for me".

More news: Donald Trump endorses Republican nominee for Tennessee governor Bill Lee

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". Ramon Laguarta, a 22-year PepsiCo veteran who was promoted to president last year, will take over as the CEO, the company said.

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.

With Nooyi's departure, the rest of PepsiCo's senior leadership team will remain unchanged, the company said. He previously served as chief executive of the Europe Sub-Saharan Africa region. According to CNBC, PepsiCo's premarket stock price declined slightly after the announcement.


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