PepsiCo's Indra Nooyi to step down after 12 years as CEO
PepsiCo's Indra Nooyi to step down after 12 years as CEO
Creating a better capitalism that thinks long term
06 August, 2018, 18:40
PepsiCo announced on Monday that Indra Nooyi would step down as chief executive officer (CEO) in October after 12 years at the helm.
However, Nooyi will remain Chairman until early 2019 to ensure a smooth and seamless transition.
'Leading PepsiCo has truly been the honor of my lifetime, ' Nooyi said in a statement, adding that, 'Growing up in India, I never imagined I'd have the opportunity to lead such an extraordinary company'.
PepsiCo has delivered strong results under Nooyi's leadership.
CEO of PepsiCo Indra Nooyi speaks at the Bloomberg Global Business Forum in New York City, US, September 20, 2017.
President Ramon Laguarta was elected by the board of directors to succeed her. Laguarta was also elected to the board. "Ramon has been a critical partner in running the company, and I'm confident he will take PepsiCo to new and greater heights in the years to come", Nooyi said about her successor. Ramon Laguarta, a 22-year PepsiCo veteran who was promoted to president last year, will take over as the CEO, the company said.
She also described "mixed emotions" about leaving the role. "This company has been my life for almost a quarter century and part of my heart will always remain here", Nooyi, 62, said in a statement. In recent years, she resisted call by an activist investor to spin off PepsiCo's beverage business, which has struggled in North America, from its better-performing Frito-Lay snacks business. 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. "Her leadership and vision propelled our performance, transformed our company and embedded sustainability into everything we do", PepsiCo said. He had previously been CEO of the European and sub-Saharan African unit of Pepsi before being named the company's president.
'With a deep understanding of PepsiCo's global operations, and a broader understanding of the total company portfolio in his role as president, we believe that Laguarta is well-placed to continue executing on PepsiCo's current strategy, ' analysts at Cowen & Co said.
And this development has led to United calling off their pursuit of Mina and turning their attention back towards Alderweireld. According to The Mirror , Manchester United are closing in on the Belgian International for a reported fee of 60 million.
Seagal has said that it's "stupid" to think that Russian Federation or any other country has the technology to tamper with voting. A statement on the ministry's Facebook page on Saturday said the position was "socio-political" and the actor would not be paid.
LeBron James drew the backing of sports , media and politics personalities after he was insulted by US President Donald Trump . That criticism drew the ire of the President, who was critical of James and Lemon in a tweet sent out late Friday evening.
Prosecutors tightened the noose on Manafort for the tax evasion charges Friday during questioning with Ayliff and Laporta. At the time, DMP International had reported losses of almost $640,000 on its profits and loss statement.
However, he said it would be a "worthy" topic at the government's caucus meeting in Saskatoon on September 12 and 13. The argument is that, if paid universally, basic income would provide a guaranteed safety net.
Police praised revelers this year for good behavior with little interference needed from police beside a few minor drug seizures. The old age pensioners were reported missing and found at Germany's Wacken Open Air festival at 3am.
Her first birthday as a royal! She accessorized with a Philip Treacy fascinator, a favorite milliner of the royal family. Prince Harry and Meghan Markle leave St George's Chapel at Windsor Castle after their wedding in Windsor, May 19, 2018.
Their win-loss ratio here is the third-best for any team at a venue in which they have played 25 or more Tests. And that was enough for the Indian batting line-up, other than Virat Kohli , to fold up meekly in two innings.
A return to the pre-ACA days of health insurance is a return to the days of lifetime and annual limits on coverage. Previously, under the Affordable Care Act, short-term plans were limited to three months.
Thomas will take enormous confidence into his PGA Championship title defence this week as he seeks a second major title. He has that", McIlroy said. "I got a little choked up when I saw grandma and grandpa over there", Thomas said.
Cohen has indicated that he would tell prosecutors that Trump knew about the Trump Tower meeting ahead of time . Others have said the meeting could provide clues to a broader conspiracy by Trump officials with Russians.
Pompeo: United States will enforce sanctions against Iran
China's refusal to comply with United States sanctions, likewise, is a sign that Iran won't be totally cutoff from world markets. For the administration, "if it leads to a wholesale capitulation fine, if it leads to regime change, even better", she added.
Trump drums up support in OH ahead of special election
The president also blasted Democrats claiming they're pro-crime specifically calling out California Democrat Maxine Waters. The Ohio rally was Trump's third of the week and he has pledged to accelerate his pace further as the midterms approach.
Japan forward Muto joins Newcastle from Mainz
Muto has joined Rafael Benitez 's side from Mainz in the Bundesliga and has become United's fifth signing of the summer. But Benitez clearly feels more must be done, adding: "I am not happy we are looking to just survive every year".
Conor is back: UFC says McGregor will fight Oct. 6 in Vegas
McGregor was arrested, but was sentenced last month to perform five days of community service, avoiding jail time in a plea deal. As it played, Diaz abruptly left the presser he was at and tweeted "I'm not fighting on that show (expletive) the UFC ".
California's raging wildfires cause another death
The fires have burned nearly one-half million acres since June and destroyed more than 2,000 structures, it added. So far, at least 100 buildings have been destroyed by the Mendocino Complex and 650 by the Carr fire.
Lee wins Tennessee GOP primary for governor
The Tennessean, a local newspaper, estimated that Dean had raised 15 times as much as Fitzhugh, and spent four times as much. Heading into July, Blackburn maintained an early 2-to-1 cash advantage over Bredesen, with $7.3 million in her bank account.
Kudlow: Squeeze won't ease; China preps more tariffs
But Bloomberg pointed out that US stocks have yet to regain strong January performances since the escalating trade war . The United States slapped duties on $34 billion worth of Chinese goods, provoking a similar response from China.
New 'wave' of cholera cases likely to hit Yemen
Lise Grande, UN humanitarian coordinator for Yemen , earlier said hundreds of thousands of people depend on Al-Thawra. The Houthis are fighting a Saudi-led military coalition that backs Yemen's government.