After 12 Years, Indra Nooyi Steps Down as PepsiCo CEO

PepsiCo President Ramon Laguarta will succeed Nooyi as CEO.

PepsiCo CEO Indra Nooyi announced her resignation on Monday, 6 August. She will be succeeded by company president Ramon Laguarta, effective from 3 October.

Nooyi, 64, has been with PepsiCo for 24 years and has held the top job for 12 years now – an exceedingly rare feat for a woman helming a company as big as PepsiCo.

Growing up in India, I never imagined I’d have the opportunity to lead an extraordinary company like @PepsiCo. Leading this company has been the honor of my lifetime. We’ve made more meaningful impact in people’s lives than I ever dreamed possible. https://t.co/sSNfPgVK6W

— Indra Nooyi (@IndraNooyi) August 6, 2018

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) August 6, 2018

Which is why I am confident, as I step down from my role as CEO on Oct 3, that @PepsiCo is moving in the right direction. I’m confident in our leadership, and most of all, I’m confident in our team to continue to focus on our Performance with Purpose. https://t.co/sSNfPgVK6W

— Indra Nooyi (@IndraNooyi) August 6, 2018

She will remain its chairman until early 2019, reported CNBC.

PepsiCo also took to Twitter to thank Nooyi for her leadership and vision.

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

Who is Ramon Laguarta?

The 54-year-old Ramon Laguarta has held various positions in his 22 years at PepsiCo, which is based in Purchase, New York. He currently serves as president, overseeing global operations, corporate strategy, public policy and government affairs. He previously served as CEO of the Europe Sub-Saharan Africa region.

CNBC reported that the company’s premarket stock price slightly dipped after the announcement.

(With inputs from AP)