INDRA Nooyi Will Step Down as PepsiCo’s CEO: President Ramon Laguarta Will Succeed Her

INDRA Krishnamurthy Nooyi, better known as Indra Nooyi, the first Indian to head   PepsiCo, the world’ second largest food and beverage business as CEO, is stepping down .But she will continue to be its Chairperson until early 2019. Nooyi, 62, born in Tamil Nadu, was its CEO for 12 years ending her tenure marked by efforts to adapt to changing consumer tastes and fending off pressure from activist investors, said  CNN .President Ramon Laguarta, 54, will succeed old Nooyi on October 3.She was  Pepsi’s sixth CEO. Under ‘s her leadership ,sales of the Mountain Dew and Gatorade maker  boosted to $63.5 billion, up 80 percent from when she started. The company’s share price has risen 78 percent in the same period. She is also credited with re-shaping Pepsi with tactical mergers and shifting to healthier drinks over sugary sodas – moving to juices and teas. She has focused on reinvigorating sales of its marquee sodas by stepping up marketing efforts to win market share from Coca-Cola Cola . Nooyi  said  in a statement “Growing up in India, I never imagined I’d have the opportunity to lead such an extraordinary company. “PepsiCo today is in a strong position for continued growth with its brightest days still ahead.”Pepsi stock gained cumulatively 79 percent since she assumed the CEO role in October 2006. That’s less than both the S&P 500, which gained 112 percent, and Coca-Cola, which gained 108 percent. It grew net revenue from $35 billion in 2006 to $63.5 billion in 2017.It also faced challenges from upstart brands that continue to threaten its market share, including once-dominant drinks like Gatorade. Pepsi’s North American beverage business has been more challenged than its stalwart snacking business, continuing to provoke questions about whether the giant would consider splitting the two.As CNN adds under Nooyi, Pepsi steadfastly kept the two businesses together, arguing in favor of the combined leverage it gives the company over retailers. It sought to revive its North American drink business by throwing more support behind its core brands. It said it erred in giving up prime shelf space in favor of supporting its younger drinks and lagging behind Coca-Cola in advertising spend. Nooyi is the second female CEO of a food and beverage company to leave the post since May, following Campbell Soup’s Denise Morrison. She is also the latest in a growing list of departures of chief executives across the food and beverage industry, as it faces the unprecedented challenge of remaking decades-old companies under the scanner of the public eye. Laguarta, a 22-year veteran of the company, has been president since September, overseeing global operations, corporate strategy, public policy and government affairs. Prior to that, Laguarta served in leadership positions in the European and sub-Saharan Africa divisions.

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