On October 3rd, PepsiCo CEO Indra Nooyi, one of the most prominent women to lead a Fortune 500 company, will step down. However she will remain chairwoman of the board of directors until early 2019. Nooyi, who is 62 years old, will be replaced by Pepsi’s global operations chief 54 year old, Ramon Laguarta.
Nooyi, who was born in India, is one of a handful of people of color to lead a Fortune 500 company. Nooyi led Pepsi to become one of the most successful food and beverage companies in the world.
During her 12 year tenure sales grew 80% and she also spearheaded Pepsi’s transition to a greener, more environmentally aware company. Nooyi has been with Pepsi for a total of 24 years.
According to CNN, before becoming CEO she led the company’s expansion through a acquisitions, including its 2001 purchase of Quaker Oats Co. Nooyi earned $31 million last year, and $87 million over the last three years, according to company filings.
Her departure leaves only 24 women leading Fortune 500 companies, after Beth Ford became the CEO of Land O’Lakes just last week.
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