Indra Nooyi to step down as CEO and Chairman of PepsiCo

Indra Nooyi to step down as CEO and Chairman of PepsiCo

Nooyi is PepsiCo's fifth CEO in the company's 53-year history.

Indra Nooyi, Pepsico's Indian-origin CEO, will step down after 12 years of leading the U.S. food and beverage giant, the company announced on Monday.

Nooyi's last day as CEO will be October 3, according to the company. "Laguarta equally represents continuity and the necessary agility for PepsiCo", said Daniel Vasella, chairman of the board's Nominating and Corporate Governance Committee.

Nooyi took over as CEO in October 2006.

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"Guided by our philosophy of Performance with objective - 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. He became president of PepsiCo previous year, overseeing its global operations, strategy, public policy and government affairs. "This company has been my life for almost a quarter century and part of my heart will always remain here", Nooyi said in a prepared statement.

At PepsiCo, Nooyi stressed the company's move toward "good for you" options, such as Baked Lay's potato chips and Naked juices made of fruits and vegetables.

Recently, Nooyi has focused on reinvigorating sales of its marquee sodas by stepping up marketing efforts, in a bid to win market share from Coca-Cola Co. Shareholder returns rose 162 percent between December 2006 and December 2017. Dividends per share almost tripled from $1.16 in 2006 to $3.17 in 2017 and a compound annual growth rate of almost 10%, according to a PepsiCo statement. Dividends per share almost tripled from $1.16 in 2006 to $3.17 in 2017, a compound annual growth rate of almost 10%. "It was her insistence on building up and maintaining a strong snack business that was most prescient". "Her leadership and vision propelled our performance, transformed our company and embedded sustainability into everything we do", PepsiCo said.

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