PepsiCo CEO Indra Nooyi steps down

PepsiCo's Indra Nooyi to step down as CEO

Nooyi has been with PepsiCo for 24 years, with the last 12 as CEO.

Ramon Laguarta, who has been with the company for more than two decades, will take over as CEO in October, the company said Monday.

She is among the world's most prominent female business leaders and has consistently appeared on Forbes' list of the 100 most powerful women, ranking 11th in 2017. She pushed PepsiCo far beyond its cola roots, expanding into hummus, kombucha and other healthier products with mixed results.

She will remain the chairman until early 2019.

. The company's shares have gained 78 percent since Nooyi took the top job in 2006. "This company has been my life for almost a quarter century and part of my heart will always remain here", Nooyi said in a prepared statement.

"I'm 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", said Nooyi.

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Before taking her charge in soda behemoth in 2006 (she joined Pepsi in 1994 as a strategist), the 62-year-old had successful stints at companies like Johnson & Johnson in India and later BCG and Motorola.

Nooyi steered PepsiCo a dozen years through the changing landscape. Prior to that, Laguarta served in leadership positions in the European and sub-Saharan Africa divisions.

"With a deep understanding of PepsiCo's worldwide operations, and a broader understanding of the total company portfolio in his role as president, we believe that Laguarta is well-placed to continue executing on PepsiCo's current strategy", analysts at Cowen & Co said.

Mr Laguarta, a 22-year veteran of PepsiCo, oversaw global operations, corporate strategy, public policy and government affairs in his role as president.


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