Indra Nooyi, the CEO at PEPSICO, will be stepping down as the company’s top executive at the end of September, but will still remain a part of the company.
Nooyi, leader of a Fortune 500 company, worked with PepsiCo for 24 years before becoming CEO. She posed to be a very competitive feminist, by helping to turn Pepsi into one of the most successful food and beverage company worldwide.
Under her management, sales grew 80%. Correspondingly, during her 12-year tenure, she transformed Pepsi into a greener, environmentally aware company. Nooyi also led the company’s expansion through acquisitions, including the purchase of Quaker Oats in 2001.
Company filings state that she earned $31 million last year, and $87 million over the last three years.
The young billionaire who was born in India to a middle-class family, recalls her mother challenging her and her younger sister at the dinner table each night. There, they would give speeches about what they would do if they were to become prime minister or another world leader, after which, the mother would cast a vote.
Nooyi explained that, “Growing up in India, I never imagined I’d have the opportunity to lead such an extraordinary company.”
With her impending departure, she will now be replaced by Pepsi’s Global Operations Chief, Ramon Laguarta (54), while remaining as chairwoman of the board of directors, until 2019.
The act of a high profile female CEO stepping down is no surprise to the media, as it has become trendy since the middle of last year. Amongst those women are Marissa Mayer at Yahoo, Irene Rosenfeld at Mondelez (MDLZ) and Meg Whitman of Hewlett Packard Enterprise (HPE).
In addition, after Beth Ford- CEO of Land O’Lakes, stepped down last week, Nooyi’s departure leaves only 24 women leading Fortune 500 Companies.
Approximately 14 months ago, there were 32 women leading Fortune 500 Companies.