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Ramon Laguarta is the right person to lead PepsiCo, says Nooyi

Ramon Laguarta is the right person to lead PepsiCo, says Nooyi

Ramon Laguarta is the right person to lead PepsiCo, says Nooyi
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By Shubham Singh  Aug 7, 2018 6:30:48 AM IST (Updated)

PepsiCo Inc said on Monday Indra Nooyi would step down as its longtime chief executive officer, handing over the reins to company veteran Ramon Laguarta at a time the beverage maker navigates a shrinking global soda market.

Indra Nooyi will step down as PepsiCo's CEO after heading the world's second-largest food and beverage giant for 12 years, handing over the reins to company veteran Ramon Laguarta.

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Laguarta will take over on October 3 and will also join the board. A 22-year veteran of PepsiCo, Laguarta oversaw global operations, corporate strategy, public policy and government affairs in his role as president and has also served as CEO of the company's Europe Sub-Saharan Africa division.
The shares of PepsiCo were trading up 1.29 percent at $117.8 on the NASDAQ.
Nooyi took to Twitter and endorsed her successor, saying that Laguarta is the right  person to lead PepsiCo.
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(With inputs from Reuters)
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