Ramon Laguarta assumed the role of Chief Executive Officer of global beverage giant PepsiCo Wednesday, succeeding India-born Indra Nooyi who had helmed the American company for 12 years, breaking the corporate glass ceiling and leading Pepsi through changing consumer preference for healthier snacks and drinks.
Nooyi stepped down after 24 years with the company, the last 12 as CEO. She will remain Chairman until early 2019 to ensure a smooth and seamless transition. PepsiCo's Board of Directors had in August announced that they unanimously elected Laguarta, 54, to succeed Nooyi, 62, as Chief Executive Officer. Laguarta was also elected to the company's Board of Directors, effective October 3.
In her concluding remarks during PepsiCo's Third Quarter 2018 Earnings Conference Call Tuesday, Nooyi said she has been blessed to have had the opportunity to lead PepsiCo and "work with such incredible people including our outstanding board, executives and other associates, our customers and other partners, our shareholders and all our other stakeholders."
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