Indra Krishnamurthy Nooyi will step down as the CEO of PepsiCo after 12 years in the position, the company announced. Taking over the reins of the global giant in 2006, Nooyi steered the company through the 2008 financial crisis and herself remained as one of the most powerful women on the planet.
"Growing up in India, I never imagined I'd have the opportunity to lead such an extraordinary company,” she said in a statement. "Leading PepsiCo has truly been the honour 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, 62, grew up in Chennai where she studied at the Madras Christian College. She went to the Indian Institute of Management, Kolkata before coming to the US in 1980 for a second master’s degree at the Yale School of Management. In India, she played cricket and was lead guitarist in an all-girl rock band. Under her leadership the revenue of the company grew more than 80%.
Nooyi has been overseeing 260,000 global employees of the com. The 54-year-old Ramon Laguarta will succeed Nooyi as CEO. Nooyi will step down on October 3, but will remain Chairman until early 2019 to ensure a smooth and seamless transition, the company said.