Pepsi CEO, Indra Nooyi, steps down after 12 years

PepsiCo Inc said on Monday Indra Nooyi would step down as chief executive officer after 12 years at the helm and named President Ramon Laguarta as her replacement.

Taking to social media, Nooyi shared some emotional posts with the people elaborating her time with the company and stated how she never imagined leading the company.

Nooyi will stay on as Pepsico chairman until early 2019, the company said, in order to ensure a smooth transition to her successor, Pepsico president Ramon Laguarta, reports Forbes.

PepsiCo CEO and chairman Indra Nooyi is stepping down after 12 years in the position, the beverage maker announced Monday. According to PepsiCo's Presiding Director Ian Cook, PepsiCo shareholders have benefited during Nooyi's tenure.

"Ramon Laguarta's unanimous appointment follows a systematic and thorough succession process by the Board of Directors".

Indra Nooyi to step down as PepsiCo CEO
PepsiCo boss Indra Nooyi to step down in October; will pass the baton to Ramon Laguarta

While many congratulated Nooyi on successfully leading the company for several years, others expressed sorrow over the decision. He is a terrific executive with a long and proven track record of growing businesses.

"Today is a day of mixed emotions for me".

"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.

Mr Laguarta has held a number of executive and general management roles in his 22 years at PepsiCo. He became president of PepsiCo past year, overseeing its global operations, strategy, public policy and government affairs. Prior to that, Laguarta served in leadership positions in the European and sub-Saharan Africa divisions.

PepsiCo has delivered strong results under Nooyi's leadership.

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