After 12 years of heading up PepsiCo as their CEO, Indra Nooyi will be stepping down in October. Nooyi, who was the first female CEO of the company, will stay on as Chairman until early next year. Ramon Laguarta, who was recently promoted to president, will take over the role of CEO.
“Leading PepsiCo has truly been the honor of my lifetime, and I’m incredibly proud of all we have done over the past 12 years to advance the interests not only of shareholders, but all our stakeholders in the communities we serve,” Nooyi said in a statement. “Growing up in India, I never imagined I’d have the opportunity to lead such an extraordinary company.”
Today is a day of mixed emotions for me. @PepsiCo has been my life for 24 years & part of my heart will always remain here. I’m proud of what we’ve done & excited for the future. I believe PepsiCo’s best days are yet to come. https://t.co/sSNfPgVK6W pic.twitter.com/170vIBHY5R
— Indra Nooyi (@IndraNooyi) 6 August 2018
“Guided by our philosophy of Performance with Purpose — delivering sustained performance while making more nutritious products, limiting our environmental footprint and lifting up all the communities we serve — we’ve made a more meaningful impact in people’s lives than I ever dreamed possible,” she said.
“PepsiCo today is in a strong position for continued growth with its brightest days still ahead,” she added. Indra Nooyi was responsible for diversifying PepsiCo’s cola roots towards other products like hummus and kombucha. In fact, after the announcement was made, PepsiCo’s premarket stock price decreased slightly.