PepsiCo’s Indra Nooyi to step down as CEO, Ramon Laguarta to take over

PepsiCo President Ramon Laguarta will replace Indra Nooyi, PepsiCo said in a statement.

business Updated: Aug 06, 2018 17:06 IST

Indra nooyi was the Pepsi CEO for 12 years.(Reuters File)

PepsiCo Inc said on Monday Indra Nooyi would step down as chief executive officer after 12 years at the helm and named President Ramon Laguarta as her replacement.

Laguarta will take over from Nooyi on Oct. 3 and will also join the board, the company said in a statement.

Nooyi, 62, who has been with the company for 24 years, will continue as chairman of the board until early 2019.

After 12 years as CEO, Indra K. Nooyi will step down Oct 3, 2018. Her leadership and vision propelled our performance, transformed our company and embedded sustainability into everything we do. Thank you, @IndraNooyi! https://t.co/gq2LwrwI0Q pic.twitter.com/uhEIeRaWfv
— PepsiCo (@PepsiCo) August 6, 2018

Laguarta, a 22-year veteran of PepsiCo, oversaw global operations, corporate strategy, public policy and government affairs in his role as president.

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

The company’s shares have gained 78 percent since Nooyi took the top job in 2006.

First Published: Aug 06, 2018 16:51 IST