PepsiCo's Indra Nooyi quits; Ramon Laguarta appointed as her successor

After serving for a period of 12 years in the beverage brand, Indra Nooyi steps down as CEO of PepsiCo. She will be succeeded by Ramon Laguarta, who was chosen in a unanimous decision by the Board of Directors. Nooyi will officially hand over the reins on October 3rd.

Speaking on behalf of PepsiCo's Board of Directors, presiding director Ian Cook said: "As Chairman and CEO, Indra has provided outstanding leadership over the past 12 years, serving as a model both within our industry and beyond for responsible corporate stewardship in the 21st century.

Speaking about Laguarta's appoint Nooyi said "Ramon Laguarta is exactly the right person to build on our success. He is a terrific executive with a long and proven track record of growing businesses. He has a deep understanding of the changing preferences of consumers and other critical trends unfolding around the world, and he has demonstrated that he knows how to navigate them successfully. 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."

Today is a day of mixed emotions for me. @PepsiCo has been my life for 24 years & part of my heart will always remain here. I'm proud of what we've done & excited for the future. I believe PepsiCo’s best days are yet to come. https://t.co/sSNfPgVK6W pic.twitter.com/170vIBHY5R

— Indra Nooyi (@IndraNooyi) August 6, 2018