Longtime PepsiCo CEO Indra Nooyi is stepping down

Indra Nooyi

The company's shares have gained 78% since Nooyi took the top job in 2006. Nooyi (62)-who has been with PepsiCo for 24 years and 12 years as CEO-will remain chairman of the company until early 2019 to ensure a smooth and seamless transition.

She will be succeeded by PepsiCo President Ramon Laguarta.

Indra Nooyi, who was the chief executive officer of PepsiCo Inc for the past 12 years, has decided step down from the position.

Global beverage major PepsiCo on Monday announced that its CEO Indra K Nooyi will step down.

She is also largely credited with re-shaping Pepsi with tactical mergers and shifting to healthier drinks over sugary sodas - moving to juices and teas.

Under Nooyi's 12-year tenure as CEO, she has boosted sales of the Mountain Dew and Gatorade maker to $63.5 billion, up 80 percent from when she started.

A 22-year veteran of PepsiCo, Mr Laguarta oversaw global operations, corporate strategy, public policy and government affairs in his role as president. "Laguarta was also elected to the company's Board of Directors, effective October 3rd", the statement also said. Previously, Laguarta served as chief executive officer, Europe Sub-Saharan Africa.

Earlier this year, Indra Nooyi was named the first independent female director of the International Cricket Council (ICC).

Under Nooyi's leadership, PepsiCo's revenue grew more than 80 per cent, outperforming our peers and adding a new billion-dollar brand nearly every other year.

In a series of posts on Twitter, the businesswoman referred to her upbringing in India and said she "never imagined" she'd have the opportunity to lead a company like PepsiCo. "She has transformed the company with her bold vision and outstanding leadership, and I feel fortunate to have her as a mentor and a friend".

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