Indra Nooyi, the CEO of the PepsiCo would step down and would be succeeded by President Ramon Laguarta.
As per the company’s statement, Mr. Laguarta will take over from Ms. Nooyi on October 3 and will also be the member of the board.
Having associated with PepsiCo for 24 years, Ms. Nooyi led from the front and helped the company rise to glory.
However, Ms. Nooyi will remain as the chairman of the board until next year.
Under Ms. Nooyi, it is said the sales of the company grew around 80 percent, and it was under her leadership the company could acquire the Quaker Oats Company in 2001.
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Besides, she played a pivotal role in making PepsiCo a more eco- friendly firm as compared to the global giants present across the world.
“Growing up in India, I never imagined I’d have the opportunity to lead such an extraordinary company,” Nooyi said on Monday.
Nooyi is the new addition to the list of female chief executives stepping down following Mondelez CEO Irene Rosenfeld and Campbell CEO Denise Morrison who stepped down recently.