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: Klopp applauds Alisson after solid debut against Napoli

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.


  • Event pairing Tiger Woods, Phil Mickelson set for Thanksgiving weekend

    Event pairing Tiger Woods, Phil Mickelson set for Thanksgiving weekend

    Their relationship, frosty in their primes, has thawed in recent years as age and life experiences have brought them closer . There's still no word on what the actual amount of money will be, but it's still rumored to be $10 million.
    Iran naval drills underway amid tensions with US

    Iran naval drills underway amid tensions with US

    This is likely in response to America's expansion of its sanctions against Iran scheduled to come into force on August 6. But Iran did not appear interested in drawing attention to them.
    US trade deficit widens by $46.3 billion in June

    US trade deficit widens by $46.3 billion in June

    Commerce Department said the country had a $2-billion United States trade deficit with Canada , up 39.7 per cent from May. Second-quarter exports rose by 6.0 percent from the first, the greatest such gain in 10 years.
  • Five Dead in California 414 Crash

    Five Dead in California 414 Crash

    According to KTLA , roads leading to South Bristol Street between Sunflower Avenue and Callen's Common have been shut down. A medical group has been established to handle patient care and treatment, said the Orange County Fire Authority.
    Pres. Trump Hosts MAGA Rally In Ohio

    Pres. Trump Hosts MAGA Rally In Ohio

    The Ohio rally was Trump's third of the week and he has pledged to accelerate his pace further as the midterms approach. It was unclear Saturday why Hicks, who left the White House in March, was accompanying the president's team.
    Donald Trump endorses Republican nominee for Tennessee governor Bill Lee

    Donald Trump endorses Republican nominee for Tennessee governor Bill Lee

    Blackburn has aligned herself strongly with the White House and held public events in Tennessee with Trump and Pence. Marsha Blackburn face only nominal primary opposition in their high-profile race to replace retiring Republican Sen.
  • FCA wants Indian Jeep 'knock-off' banned

    FCA wants Indian Jeep 'knock-off' banned

    The last agreement signed by Mahindra and the owners of the Willys brand was in 2009, when it was owned by Chrysler Group LLC. Mahindra has not yet been served with the complaint and we prefer not to comment at length on the dispute at this time.
    Hurricane Hector strengthens to Category 4 storm

    Hurricane Hector strengthens to Category 4 storm

    Hawaii's Big Island already is dealing with another natural disaster - the eruption of Kilauea Volcano in the southeast. The United States Geological Survey said Saturday that the volcano is still sending large amounts of lava into the sea.
    Manafort lied on his taxes to get $500K reduction: accountant

    Manafort lied on his taxes to get $500K reduction: accountant

    During one series of questions, prosecutors asked Laporta about loans from two distinct entities, Telmar and Paranova. The store's chief financial officer, Ronald Wall, testified that Manafort paid for the clothes with wire transfers.
  • Scientists have caught a odd  signal from deep space

    Scientists have caught a odd signal from deep space

    Canada's shiny new radio telescope is up and running, and it just heard something very, very odd coming from deep space. This means that whatever produced the signal, which has been named "FRB 180725A", is likely to be extremely powerful.
    Saudi Arabia expels Canadian ambassador, recalls envoy

    Saudi Arabia expels Canadian ambassador, recalls envoy

    Allam said what's happened reminds him of a 2015 diplomatic dispute between Sweden and Saudi Arabia. Representatives for Canada's foreign department didn't respond to a request for comment.
    Trump says Trump Tower meeting was 'totally legal'

    Trump says Trump Tower meeting was 'totally legal'

    President Donald Trump holds a Make America Great Again rally in Olentangy Orange High School in Lewis Center, OH, U.S., August 4, 2018.