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First Female CEO Of Hudson Valley-Based Pepsi Stepping Down

Pepsi CEO Indra Nooyi
Pepsi CEO Indra Nooyi Photo Credit: wikipedia

One of the most prominent women to lead a Fortune 500 company and the first female CEO in PepsiCo history will be stepping down this fall.

After 62-year-old Indra Nooyi's retirement takes effect Oct. 3, the Westchester-based company, headquartered in Purchase, announced Monday morning that its president, Ramon Laguarta, will become the new chief executive

Nooyi, a Greenwich resident and native of India, will remain as chairwoman of the board of directors until early 2019, PepsiCo said.

During Nooyi's 12-year tenure as CEO, PepsiCo focused on healthier drinks as sales of its signature Pepsi-Cola declined. But overall sales grew 80 percent, lifted by the company's snacks division. The company's total revenue in the second quarter topped $16 billion and its net revenue in 2017 was $63 billion.

"Leading PepsiCo has truly been the honor of my lifetime, and I'm incredibly proud of all we have done over the past 12 years to advance the interests not only of shareholders, but all our stakeholders in the communities we serve," Nooyi said in a statement.

Nooyi's retirement will leave 24 women as Fortune 500 CEOs.

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