Indra Nooyi to step down as PepsiCo CEO

Indra Nooyi to step down after a 12-year stint at Pepsico

[File] Indra Nooyi | AP [File] Indra Nooyi | AP

After a stint of about 12 years, India-born Indra Nooyi will step down as the CEO of Pepsico, the leading food and beverages firm. Ramon Laguarta will succeed Indra Nooyi who will end her tenure as Pepsico CEO on October 3, the company has announced. 

Nooyi will remain as chairman until early 2019, Pepsico said in a statement. Laguarta has been elected to the company's board, effective October 3. 

Ramon Laguarta has been working with PepsiCo for 22 years and was promoted as President last year. According to a filing by Pepsico in the Nasdaq, Laguarta had worked for Chupa Chups, a confectionery company based in Spain, where he held a number of international roles in Europe and the US. 

“Leading PepsiCo has truly been the honor of my lifetime, and I’m incredibly proud of all we have done over the past 12 years to advance the interests not only of shareholders, but all our stakeholders in the communities we serve,” Nooyi said in a statement announcing her resignation.