Pepsico's long-time chief executive Indra Nooyi steps down

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Mrs. Nooyi was named President and CEO on October 1, 2006 and assumed the role of Chairman on May 2, 2007. While she was chief financial officer, PepsiCo bought Quaker Oats and when she was vice president of corporate strategy, it spun off its interest in Pizza Hut, KFC and Taco Bell.

Nooyi will be succeeded on October 3 by Ramon Laguarta, who has served as Pepsi's president since a year ago.

Having always aspired to be in the US, Nooyi left her job at Johnson & Johnson and applied for the Yale School of Management and got through with a scholarship.

During her 12-year stint as the CEO, PepsiCo's net revenue grew from $35 billion in 2006 to $63.5 billion in 2017, a compound annual growth rate of 5.5%, the company has said.

Since September, he has been serving as president, overseeing global operations, public policy, corporate strategy and government affairs.

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"Nobody's going to remember you for delivering earnings to stockholders; they will remember you for the lasting impact you made on society, " she said in a 2009 speech as she pushed PepsiCo into uncharted but healthy areas. "Being a CEO requires strong legs and I feel like I ran two legs of a relay race and I want somebody else with nice strong legs and sharp eyes to come and lead this company".

"Under her leadership, PepsiCo grew its portfolio of "Good for You and Better for You" options from about 38 per cent of revenue in 2006 to roughly 50 per cent in 2017, nearly tripled its investments in research and development to expand its more nutritious offerings and minimize its environmental impact, and achieved global recognition for the company's work in communities around the world".

In her climb to the top, Nooyi had been at the forefront of several deals that reshaped PepsiCo. Pepsi was rebuffed in 2016 in its attempt to take a major stake in Chobani, the Greek-yogurt maker. Products such as Sabra hummus and guacamole, Naked cold-press juices and Lipton Pure Leaf tea have bolstered results. Both Coke and the S&P also have slightly outperformed Pepsi during Nooyi's tenure. Prior to Pepsi she worked at Swiss industrials company Asea Brown Boveri. "And we didn't find one that would create shareholder value".

Analyst Neil Saunders praised Nooyi for leading during an "extremely challenging" period in consumer products, praising in particular the decision to stick with snacks. As CEO, she later oversaw acquisition of a 50% stake in USA hummus maker Sabra in 2008, formed a joint venture with Saudi Arabian dairy giant Almarai in 2009, and bought Brazilian coconut water company Amacoco.

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