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According to PepsiCo Inc., Indra Nooyi will step down as the chief executive officer (CEO) of the company, effective 3 October. The board of directors has elected Ramon Laguarta, who has been with the company for 22 years, to succeed Nooyi as CEO.
Nooyi, who has been with PepsiCo for 24 years and 12 years as CEO, will remain the chairman of the company until early 2019 to ensure a smooth and seamless transition.
Laguarta has held a number of executive and general management roles in his 22 years at PepsiCo. Since September 2017, Laguarta has served as President of PepsiCo, overseeing global operations, corporate strategy, public policy and government affairs. Laguarta has served in leadership positions in the European and sub-Saharan Africa divisions.