Indra Nooyi to stepdown after 12 years as CEO of PepsiCo, Ramon Laguarta to be the new CEO

After a 12 year stint as CEO, India born Indra Nooyi will step down from global food & beverage conglomerate Pepsico  in October. President Ramon Laguarta, 54, will succeed the 62-year-old Nooyi effective Oct. 3, becoming Pepsi’s sixth CEO. Nooyi will remain as chairman until early 2019.

“Today is a day of mixed emotions for me.PepsiCo has been my life for 24 years & part of my heart will always remain here. I’m proud of what we’ve done & excited for the future. I believe PepsiCo’s best days are yet to come” twitted Indra.

“Ramon Laguarta is exactly the right person to help build on @PepsiCo‘s strong position and success. 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”

 In the 11 years through the end of last year, the company generated total shareholder return of 162 percent, it said Monday. It grew net revenue from $35 billion in 2006 to $63.5 billion in 2017.