Indra Nooyi to step down as PepsiCo chief executive

Indra Nooyi to step down as PepsiCo chief executive

She also saw off billionaire activist investor Nelson Peltz's efforts to spin off the company's drinks business from its more successful snacks division by offering his fund, Trian, a board seat in 2015 to make peace. She was among the first of a handful of India-born executives to helm global corporates.

Indra Nooyi worked at PepsiCo Inc. for 24 years, including 12 as chief executive. A study by Equilar found that the average tenure for a CEO at large companies is only five years.

PepsiCo's moves included buying a 50 per cent stake in USA hummus maker Sabra in 2008 and acquisition of Brazilian snack company Mabel in 2011, a year that also saw the company unveil an alliance with Tingyi Holding in China.

"Our employees, especially our employees who are non-white or who are LGBT, are asking, 'Are we safe?'" said Nooyi, who had backed Hillary Clinton in the race. The couple has two daughters.

Reminiscing about the time spent and work done in the company for several years, she also tweeted about the work she is proud of.

She said that she did not yet know what she wanted to do next. "Can you go out and get some milk". "He has been a critical partner and friend and I am positive that he will take PepsiCo to new and greater heights in the years to come". So leave that damned crown in the garage.

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During an era when a businessman occupies the White House and corporate leaders including Mark Cuban and Howard Schultz are mentioned as potential presidential candidates, Nooyi said she doesn't see a future for herself in politics.

Nooyi said that the timing of her departure was unrelated.

After graduation, she pursued MBA from the Indian Institute of Management in Kolkata in 1976 and also earned a seat in Yale School of Management in the U.S. for further studies. With this gift, Nooyi became the most generous graduate of Yale School of Management in terms of lifetime giving to the school. In 2010, she oversaw the $5.4 billion acquisition of Russian dairy and fruit-juice maker Wimm-Bill-Dann.

Nooyi will continue holding her chairman position through early 2019 to 'ensure a smooth and seamless transition, ' the company said in a statement. She joined Pepsico in 1994. Nooyi has held positions at Boston Consulting Group (BCG), Johnson & Johnson, Motorola and Asea Brown Boyeri.

Laguarta takes over at PepsiCo as the business faces mounting challenges caused by shifts in consumer tastes as people look for healthier alternatives to traditional soft drinks and snacks.

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