One of the most prominent women to lead a Fortune 500 company — and one of only a handful of people of color to do so — is stepping down. CNN reports that Indra Nooyi will step down Oct. 3 from her post as CEO of PepsiCo.
“She will remain as chairwoman of the board of directors until early 2019,” CNN notes. “Nooyi, 62, will be replaced by Pepsi’s global operations chief Ramon Laguarta, 54.”
Born in India, Nooyi “helped turn Pepsi into one of the most successful food and beverage companies in the world,” CNN reports. “Sales grew 80% during her 12-year tenure. She spearheaded Pepsi’s transition to a greener, more environmentally aware company.”
Nooyi has spent 24 years with the company.
“Before becoming CEO, she led the company’s expansion through acquisitions, including its 2001 purchase of Quaker Oats,” CNN notes. “She earned $31 million last year, and $87 million over the last three years, according to company filings.”
The report adds: “Her departure leaves only 24 women leading Fortune 500 companies, after Beth Ford became the CEO of Land O’Lakes just last week. Just more than a year ago, there were 32 women leading Fortune 500 companies.”