Indra Nooyi, PepsiCo CEO Steps Down

Indra Nooyi, PepsiCo CEO Steps Down

Business

Indra K. Nooyi, the CEO of PepsiCo and the person behind their health drive is set to step down from her position in the organization this year, thereby ending a run for 12 years, in which she had sought to revamp the giant known for drinks and snacks into becoming a unit that deals in healthy food items and beverages.

The decision to step down from her position, from being a veteran in the organization for 22 years to give the job away to Ramon Laguarta, happens to be the latest in a slew of resignation by women, who are already thin in number when it comes to holding leading positions in organizations.

Ms. Nooyi will be replaced as the Chief Executive by Ramon Laguarta on 3rd October, but she will continue to be the chairwoman of PepsiCo till early part of 2019.

She went on to talk about quite a significant expansion in the business of PepsiCo, with the growth in revenue seeing rise up to $63.5 last year in 2017 from the point of $35 in the year 2006. This phase of 11 years had seen the share price of PepsiCo almost getting doubled.

Ms. Nooyi had ensured that PepsiCo diversifies their mix of products in such a way that they move away from all those snacks, which had loads of fats. Due to this reason, currently, the company offers its customers baked chips and water from brands like Life water and Bubly. Recently the company has also acquired Bare Foods, which is a manufacturer of cooked fruit and vegetable snacks. Since the year 2006, revenue generated from healthier food and beverages had gone up from 38 percent to 50 percent.

The last four years had seen a rise in the sale of snacks by 12 percent in the US, with a significant portion coming through from organic foods.

The appointment of Ramon Laguarta keeps a tradition of the organization getting leaders from within their system. He hails from Barcelona, who used to previously head the company’s operations in Europe and sub-Saharan Africa. Before that, he had even been the President of the company’s division in East Europe.

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