PepsiCo CEO Indra Nooyi steps down, Ramon Laguarta to take over

PepsiCo CEO Indra Nooyi steps down, Ramon Laguarta to take over

Nooyi, 64, has been with PepsiCo Inc. for 24 years and has held the top job for 12.

In a statement, Nooyi said: "Growing up in India, I never imagined I'd have the opportunity to lead such an extraordinary company".

"Ramon Laguarta's unanimous appointment follows a systematic and thorough succession process by the Board of Directors". Nooyi, 62, will be replaced by Pepsi's (PEP) global operations chief Ramon Laguarta, 54.

Under Nooyi's leadership, PepsiCo's revenue grew more than 80 per cent, outperforming our peers and adding a new billion-dollar brand nearly every other year.

" We've made a more meaningful impact in people's lives than I ever dreamed possible".

He now serves as president, overseeing global operations, corporate strategy, public policy and government affairs.

Ligue 1 duo interested in Rangers striker Alfredo Morelos
I thought tactically when we went to 10 we were very good and very professional. Everything we have seen today is about Rangers.

Nooyi steered PepsiCo a dozen years through the changing landscape. "But I am 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, and excited for all the great things that are in store for this company".

He also served as CEO of the company's Europe Sub-Saharan Africa division before becoming president.

In February, Nooyi was appointed to the International Cricket Council (ICC) Board as the governing body's first independent female director. The company's share price has risen 78 percent in the same period.

Nooyi, who is said to get up at 4am, was born in Madras, now Chennai, and left India at the age of 23 to study at Yale, where she earned her master's degree in public and private management.

Under her leadership, PepsiCo has seen net revenue growth from $35bn in 2006 to $63.5bn in 2017: a compound annual growth rate of 5.5%.

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