Longtime PepsiCo CEO Indra Nooyi is stepping down

  • Longtime PepsiCo CEO Indra Nooyi is stepping down

Longtime PepsiCo CEO Indra Nooyi is stepping down

But an even more exclusive club will say goodbye to one of its longtime members.

Nooyi, who has been with the company for 24 years, led a strategic shift away from junk foods toward healthier options during her 12 years as CEO.

'Today is a day of mixed emotions for me.

Since the middle of past year, several high-profile female CEOs have announced they were stepping down, including Marissa Mayer at Yahoo, Irene Rosenfeld at Mondelez and Meg Whitman of Hewlett Packard Enterprise. "We must make big changes to big things", she had said.

Before today's announcement, PepsiCo's stock was essentially flat year over year, versus a 15% increase for the S&P.

A ballyhooed 2012 joint venture with German dairy giant Theo Muller to sell yogurt in North America fizzled four years later due to slow sales.

With Nooyi's departure, the rest of PepsiCo's senior leadership team will remain unchanged.

"At the same time [Nooyi] has invested for the future, leading the way on corporate sustainability and responsibility, and embedding a sense of objective in everything the company does". "The company is in great shape".

Nooyi was born in Chennai and her alma maters were Madras Christian College and IIM, Calcutta before she joined Yale University.

Nooyi will continue holding her chairman position through early 2019 to 'ensure a smooth and seamless transition, ' the company said in a statement. His election for the succession was made by the board of directors.

Nooyi came under pressure from Peltz, who called for the company to be broken up in 2014. "At some point, you've got to sit back and say, what do I want to do with my life". She said her mother told her "let the news wait". But Nooyi, who has not been afraid to get political, said it would not be running for office. "I'm just a good worker bee". She was also politically outspoken, once creating a stir in a speech to the Columbia business school graduating class by ticking off a critique of the Bush administration (and the United States) with her fingers till only her middle finger remained.

In India, she played cricket and was lead guitarist in an all-girl rock band.

Since being appointed CEO in 2006, Nooyi engineered a balanced portfolio of food and beverage products labeled either "better for you", "fun for you" or "good for you".

Nooyi dismissed soda taxes as panacea and said the surge in obesity needed to be countered in a "holistic" way to address huge portion sizes and other factors.

Indeed, her India background and her gender animated both her rise and her profile in an American corporate world where female CEOs account for only about five per cent of the Fortune500 companies.

She has described consumer tastes as often unpredictable, veering from a desire for artificial sweeteners to suspicion at unnatural ingredients. The Fortune 500 includes the largest companies based on revenue. I think my family was short-changed a lot.