PepsiCo announced that their CEO, Indra Nooyi, who was the first female and non native born CEO to lead the company will step down from the position after running the company for 12 years.
Indra Nooyi who was born in India, joined the company in 1994 as head of corporate strategy rose to the prominence in 2006 as the top executive. Nooyi who is a Yale university graduate was one of the few top female executives running S&P 500 companies.
Indra Nooyi will step down from the position by October 3 and will remain as Chairman until early 2019. She will be succeeded by the President Ramon Laguarta who was promoted to President last year. Ramon Laguarta who is a native to Barcelona, is an insider who has been working with the company for 22 years, will be the sixth CEO of the PepsiCo.