Pepsi's first female CEO is stepping down after 12 years

Chill Ms Nooyi! Of course a woman can't have it all

Chill Ms Nooyi! Of course a woman can't have it all

PepsiCo today announced that its board of directors has unanimously elected Ramon Laguarta, 54, to succeed Indra K. Nooyi, 62, as chief executive officer.

She will be replaced by Ramon Laguarta, who will become the beverage maker's sixth CEO. Nooyi was the first female CEO in the company's history.

Nooyi will remain the chairman until early 2019 to ensure a smooth transition, the company said.

He was elevated to president in September of a year ago and was widely expected to succeed Nooyi, though at the time of his appointment Nooyi said she would remain CEO "for the foreseeable future".

Under Nooyi's leadership, PepsiCo witnessed a net revenue growth from $35 billion in 2006 to $63.5 billion in 2017 and a compound annual growth rate of 5.5%. Guided by our philosophy of Performance with objective - delivering sustained performance while making more nutritious products, limiting our environmental footprint and lifting up all the communities we serve - we've made a more meaningful impact in people's lives than I ever dreamed possible. 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. "He has been a critical partner and friend and I am positive that he will take PepsiCo to new and greater heights in the years to come", Nooyi tweeted on Monday. According to PepsiCo's Presiding Director Ian Cook, PepsiCo shareholders have benefited during Nooyi's tenure.

"Today is a day of mixed emotions for me". "PepsiCo's best days are still ahead of it".

Ramon Laguarta, the future CEO, has spent 22 years at the company, and served as the President of PepsiCo.

"Her leadership and vision propelled our performance, transformed our company and embedded sustainability into everything we do", PepsiCo said.

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