Nooyi was the first female CEO in the PepsiCo's history. The 62-year-old has in total spend about 24 years with the company. She will remain as chairman until early 2019.
"Growing up in India, I never imagined I'd have the opportunity to lead such an extraordinary company," Nooyi said in a statement. Guided by our philosophy of Performance with Purpose delivering sustained performance while making more nutritious products, limiting our environmental footprint and lifting up all the communities we serve we've made a more meaningful impact in people's lives than I ever dreamed possible," she said. "PepsiCo today is in a strong position for continued growth with its brightest days still ahead," she added.
According to news agency PTI, Laguarta, a 22-year veteran of the company, has been president since September, overseeing global operations, corporate strategy, public policy and government affairs. Prior to that, Laguarta served in leadership positions in the European and sub-Saharan Africa divisions. With Nooyi's departure, the rest of PepsiCo's senior leadership team will remain unchanged, the company said.
PepsiCo's premarket stock price plunged slightly after the announcement, CNBC reported.
Prior to working with PepsiCo, Noyyi was associated with the companies below:
Senior Vice President, Strategy and Strategic Marketing, Asea Brown Boveri (Pvt.) Ltd.
Vice President & Director of Corporate Strategy and Planning, Motorola
International Corporate Strategist, The Boston Consulting Group
Product Manager, Johnson & Johnson
Product Manager, Mettur Beardsell, Ltd.
On behalf of PepsiCo's Board of Directors, presiding director Ian Cook said: "As Chairman and CEO, Indra has provided outstanding leadership over the past 12 years, serving as a model both within our industry and beyond for responsible corporate stewardship in the 21st century."
Ramon Laguarta's profile below:
54-yer-old Laguarta is a Spanish national from Barcelona. Besides being an alumnus of the prestigious ESADE Business School from where he earned his MBA, he is a polyglot, well-versed in English, French, German, Greek and Catalon languages.
President Pepsico Inc, September, 2017 - Present
CEO:Europe SUB Saharan Africa Pepsico Europe, July 2015- Sept, 2017
CEO:Europe Pepsico Europe, Jan, 2015- July, 2015
President:Developing & Emerging Markets Pepsico Europe, Jan, 2012-2015
President:Eastern EuropePepsico Europe, 2008-2012
Pepsico Inc, 1996- Not Known
Vice-President:Commercial, Pepsico Europe, Former
Gen Manger: Iberia Snacks & JuicesPepsico Europe, Former
Chupa Chups SA, Former.
Commenting on his appointment, Laguarta said, "I'm incredibly humbled and privileged to be appointed the next CEO of PepsiCo, and I want to thank the Board of Directors for the confidence they have placed in me with their decision," said Laguarta. "I also want to thank Indra for her overwhelming support. She has transformed the company with her bold vision and outstanding leadership, and I feel fortunate to have her as a mentor and a friend. And of course, I want to thank all of my colleagues, as well as the customers, bottlers, partners, and investors who are part of the PepsiCo family. I look forward to working more closely with all of you in the months and years ahead, and to continue growing this special company long into the future."