Pepsi CEO, Indra Nooyi, steps down after 12 years

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PepsiCo CEO Indra Nooyi will step down on October 3 after a 12-year stint at the helm of food and beverage multinational. "Growing up in India, I never imagined I'd have the opportunity to lead such an extraordinary company", Nooyi said in a statement Monday.

Under Nooyi's 12-year tenure as CEO, she has boosted sales of the Mountain Dew and Gatorade maker to $63.5 billion, up 80 percent from when she started.

Under Nooyi's leadership, PepsiCo's revenue grew more than 80 per cent, outperforming our peers and adding a new billion-dollar brand nearly every other year. She spearheaded Pepsi's transition to a greener, more environmentally aware company.

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Commenting on the appointment of Laguarta Nooyi said, "Ramon Laguarta is exactly the right person to build on our success".

Meanwhile Laguarta, who has been with the company for 22 years, has been the president since September overseeing global operations, corporate strategy, public policy and government affairs at PepsiCo.

"PepsiCo today is in a strong position for continued growth with its brightest days still ahead", she added.

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

Earlier this year, Indra Nooyi was named the first independent female director of the International Cricket Council (ICC).

Fortune credits Nooyi with moving PepsiCo's portfolio towards healthier fare: and PepsiCo has grown its portfolio of "Good for You" and "Better for You" options from about 38% of revenue in 2006 to roughly 50% in 2017.

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Born to a Tamil family (her father was a banker and her mother was a housewife), she earned her Bachelor's degree from Madras Christian College in Chennai and later did her MBA from IIM-C.

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