PepsiCo CEO Indra Nooyi Steps Down

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After spending twelve years as leader of PepsiCo, Indra Nooyi is stepping down.

“The investment bankers have been knocking on our door forever,” outgoing PepsiCo CEO Indra Nooyi told analysts earlier this year.

Activists have been pushing the company to split its snack and drink business.

Nooyi will step down on October 3rd and in her place, President Ramon Laguarta will take over as CEO. Laguarta has been with the company for 22-years and has been president since last September.

62-yer old Nooyi will remain as PepsiCo’s chairwoman until early 2019, the company said.

Nooyi tweeted on Monday, “Today is a day of mixed emotions for me. @PepsiCo has been my life for 24 years & part of my heart will always remain here. I’m proud of what we’ve done & excited for the future. I believe PepsiCo’s best days are yet to come.”

On Laguarta taking her position, she tweeted, “Ramon Laguarta is exactly the right person to help build on @PepsiCo’s strong position and success. He has been a critical partner and friend and I am positive that he will take PepsiCo to new and greater heights in the years to come.”

“This transition could open a wider door to Pepsi considering a variety of potential alternatives, including stepped up refranchising … even potentially splitting up the company,” remarked Wells Fargo analyst Bonnie Herzog.

Disclaimer: We have no position in PepsiCo, Inc. (NASDAQ: PEP) and have not been compensated for this article.