This morning, PepsiCo announced that Indra Nooyi step down and a new CEO to Ramon Laguarta after 12 years
PepsiCo’s board of directors chose Laguart, a 54-year-old veteran of PepsiCo, who since September 2017 has served as president of the company – CEO and board of directors. He will take over as Chief Executive Officer on October 3. Nooyi, who served for various positions at PepsiCo for 24 years, will remain as chairman until early 2019.
PepsiCo said the rest of his team leader would remain unchanged.
As president of Laguarta, he oversees global operations, corporate strategy, public policy, and government affairs. He previously worked as CEO of Europe Sub-Saharan Africa, which PepsiCo described as one of its “most comprehensive … operations with three continents”, including developed, emerging and emerging markets. Previously, he was president of PepsiCo Eastern Europe and served in a number of business, marketing and other commercial roles across Europe.
Before PepsiCo, she acted in Chupa Chups SA, a leading confectionary company based in Spain, where she played various international roles in Europe and native of the US A Barcelona, she speaks several languages, including English, Spanish, French, German and Greek.
PepsiCo’s Board of Directors honored Nooyi, who led the company in the most demanding period due to a long decline in sales of cheese soda as consumers turned to healthier beverages. Nooyi has implemented a strategy to acquire and develop healthier products and beverages with somewhat mixed results, and has ruled out the division of the company from activist Nelson Peltz of Trian Fund Management.
During his work, Nooyi “delivered strong and consistent financial performance and managed not only with short – term but also long – term results,” said chairman Ian Cook, who spoke for the board of directors. “As CEO, it has earned more than 80% of our revenue, overtaking our role and adding a new billion dollars almost every second year, and the shareholders benefit: $ 1,000 invested in PepsiCo in 2006 is now more than two and a half times higher.
“At the same time, [Nooyi] has invested in the future, leading the way to sustainability and corporate responsibility, and incorporating a sense of purpose in everything that society does.As one of the first Fortune 100 CEOs to introduce sustainability goals into business operations, the path of a new generation of business leaders who are trying to “do well with good.” Under its leadership, PepsiCo has expanded its portfolio of Good for You and Better for You from approximately 38% of revenue in 2006 to around 50% in 2017, nearly tripled its investment into research and development to expand its nutritious supply and minimize its environmental impact and achieve global recognition for community work in communities around the world. ”
PepsiCo achieved a 149% shareholding from Nooyi in October 2006, compared with 197% for Coca-Cola and 173% for the S & P 500, according to FactSet quoted by The Wall Street Journal. PepsiCo’s market capitalization has been nearly $ 165 billion since Friday, while Coca-Cola has $ 200 billion. PepsiCo’s revenue grew by 81% to $ 63.5 billion in 2017, while acting as CEO.
Nooyi, 62, asked for advice to begin preparing for her departure more than a year ago,