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

Kenny Grant
August 6, 2018

Her run will end on October 3rd after 24 years with the company.

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.

PepsiCo CEO Indra Nooyi will step down after 12 years of leading the food and beverage giant. She will remain chairman until early 2019 to ensure a smooth and seamless transition.

Ramon Laguarta, the future CEO, has spent 22 years at the company, and served as the President of PepsiCo. He has also served as CEO of the company's Europe Sub-Saharan Africa division.

"Ramon Laguarta is exactly the right person to help build on @PepsiCo's strong position and success".

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

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Laguarta will be the sixth CEO in PepsiCo's history, with all of them coming from within the company. "Ramon has been a critical partner in running the company, and I'm confident he will take PepsiCo to new and greater heights in the years to come", Nooyi said about her successor.

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.

"Indra has provided outstanding leadership over the past 12 years, serving as a model both within our industry and beyond for responsible corporate stewardship in the 21st century", said presiding director Ian Cook.

"With a deep understanding of PepsiCo's global 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.

PepsiCo's shares were up marginally in premarket trading on Monday.

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