PepsiCo CEO Indra Nooyi will step down from her designation after 12 years and named President Ramon Laguarta as her replacement. Laguarta will take over on October 3, 2018, and will also join the board, the company said in a statement.
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Indra Nooyi who has been serving the company for 24 years, will continue as the Chairperson of the board till early 2019.
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Ramon Laguarta was serving the company for 22 years and was looking after global operations, corporate strategy, public policy and government affairs in his role as president. He also served as CEO of the company’s Europe Sub-Saharan Africa division before becoming president.