Indra Nooyi is stepping down as the CEO of PepsiCo (NASDAQ:PEP).
Indra Nooyi will be leaving the role of Pepsi CEO on Oct. 3, 2018. However, she will remain with the company as the Chairman of its Board of Directors until early 2019. This will allow for a smooth transition between her and the next Pepsi CEO.
The next person taking over as the new Pepsi CEO is Ramon Laguarta. This change will take place on Oct. 3, 2018. He will also be joining the company’s Board of Directors at the same time that he takes over as CEO.
Indra Nooyi stepping down as the current Pepsi CEO will be the first time that the company has changed CEOs in 12 years. After she leaves the Chairman role, it will mark the end of a 24-year career she has had with the food and beverage company.
Indra Nooyi’s Pepsi CEO successor also has a long history with the company. Ramon Laguarta has been with PEP for 22 years now. He has held several manager and executive positions during this time. His most recent role was acting as the President of Pepsi. He took on this position back in September 2017.
“Thanks to her leadership, PepsiCo is well positioned for ongoing success as Ramon assumes this new role,” Ian Cook, presiding director of PEP’s Board of Directors, said in a statement while speaking about Indra Nooyi. “He is a seasoned leader with deep experience in international markets, and the board is confident that he is the right person to usher in this next chapter of growth for PepsiCo.”
PEP stock was up 1% as of Monday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.
