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Pepsico's CEO Indra Nooyi to step down on October 3

Pepsico's CEO Indra Nooyi to step down on October 3: US media.

PTI 06 Aug 2018, 11:18 AM India, United States

PepsiCo Inc said on Monday Indra Nooyi would step down as the chief executive officer after 12 years at the helm and named President Ramon Laguarta as her replacement.

Laguarta will take over from Nooyi on Oct. 3 and will also join the board, the company said in a statement.

Nooyi, 62, who has been with the company for 24 years, will continue as chairman of the board until early 2019.

Laguarta, a 22-year veteran of PepsiCo, oversaw global operations, corporate strategy, public policy and government affairs in his role as president.

He also served as CEO of the company's Europe Sub-Saharan Africa division before becoming president.

The company's shares have gained 78 percent since Nooyi took the top job in 2006.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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