Indra Nooyi of PepsiCo has announced that she is stepping aside as CEO after some 12 years at the helm.
Ramon Laguarta will succeed Nooyi as CEO of PepsiCo on Oct. 3. Laguarta has been with the company for 22 years, most recently as President of PepsiCo, overseeing global operations, corporate strategy, public policy and government affairs. Previously, Laguarta was PepsiCo’s CEO of Europe and Sub-Saharan Africa.
“Ramon is a strong and proven executive with an outstanding track record growing organically and by acquisition some of PepsiCo’s largest and most important international businesses,” said a spokesperson. “He keenly understands the evolving needs of consumers and customers and the trends affecting our business in markets around the world. He will bring the depth of experience and innovative thinking that has powered his previous achievements as he is inheriting a well-positioned company poised to continue delivering top-tier performance.
“Indra has been a visionary leader who transformed the corporation and led it to unprecedented success. Her leadership skills, strategic acumen, dedication and integrity have been critical to the sustained success of the corporation and the development of top talent.”
Nooyi will remain chairman of the board until early 2019 to ensure a smooth transition. She delivered strong and consistent financial performance and grew revenue more than 80%, adding a new billion-dollar brand almost every other year.
Under her leadership, PepsiCo dramatically repositioned itself toward selling more nutritious options, such as juices and kombucha. She is hailed as a pioneer among business leaders who promote sustainability and seek to “do well by doing good.”
