PepsiCo CEO Indra Nooyi announced her resignation on Monday, 6 August. She will be succeeded by company president Ramon Laguarta, effective from 3 October.
Nooyi, 64, has been with PepsiCo for 24 years and has held the top job for 12 years now – an exceedingly rare feat for a woman helming a company as big as PepsiCo.
She will remain its chairman until early 2019, reported CNBC.
PepsiCo also took to Twitter to thank Nooyi for her leadership and vision.
Who is Ramon Laguarta?
The 54-year-old Ramon Laguarta has held various positions in his 22 years at PepsiCo, which is based in Purchase, New York. He currently serves as president, overseeing global operations, corporate strategy, public policy and government affairs. He previously served as CEO of the Europe Sub-Saharan Africa region.
CNBC reported that the company’s premarket stock price slightly dipped after the announcement.
(With inputs from AP)
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