Nooyi to quit as PepsiCo CEO; will remain Chairman till early 2019
New York, Aug 6: Indian American business executive Indra K. Nooyi will step down as the Chief Executive of food and beverage major PepsiCo Inc in October, the company said on Monday.
According to the US-based multinational, Nooyi, 62, will step down on October 3 after 24 years with the company, the last 12 as the CEO. However, Nooyi will remain the Chairman of the company until early 2019, Pepsico said.
She will be succeeded by Ramon Laguarta, 54, as the Chief Executive Officer.
"Growing up in India, I never imagined I'd have the opportunity to lead such an extraordinary company," Nooyi was quoted as saying in a company statement.
"Guided by our philosophy of 'Performance with Purpose' - delivering sustained performance while making more nutritious products, limiting our environmental footprint and lifting up all the communities we serve, we've made a more meaningful impact in people's lives than I ever dreamed possible.
"PepsiCo today is in a strong position for continued growth with its brightest days still ahead."
While Nooyi departs, the rest of PepsiCo's senior leadership team will remain unchanged.
Speaking on behalf of PepsiCo's Board of Directors, presiding director Ian Cook said: "As Chairman and CEO, Indra has provided outstanding leadership over the past 12 years, serving as a model both within our industry and beyond for responsible corporate stewardship in the 21st century.
"As CEO, she grew revenue more than 80 per cent, outperforming our peers and adding a new billion-dollar brand almost every other year. And shareholders have benefited: $1,000 invested in PepsiCo in 2006 is worth more than two-and-a-half times that amount today."
Cook pointed out that under her leadership the company invested "for the future, leading the way on corporate sustainability and responsibility, and embedding a sense of purpose in everything the company does.
"As one of the first Fortune 100 CEOs to embed sustainability targets into business operations, Indra was a pioneer, paving the way for a new generation of business leaders who seek to 'do well by doing good'.
"Under her leadership, PepsiCo grew its portfolio of 'Good for You and Better for You' options from about 38 per cent of revenue in 2006 to roughly 50 per cent in 2017, almost tripled its investments in research and development to expand its more nutritious offerings and minimize its environmental impact, and achieved global recognition for the company's work in communities around the world."
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Kharge dares PM Modi to take steps against BJP leaders who talk about altering Constitution
Kishanganj/Katihar (Bihar) (PTI): Congress president Mallikarjun Kharge on Friday challenged Prime Minister Narendra Modi to take action against BJP leaders who have stated that the Constitution will be changed if the saffron party won more than 400 seats in Lok Sabha.
Addressing back-to-back election rallies in Kishanganj and Katihar Lok Sabha constituencies in Bihar, Kharge also came down heavily on former Congress ally Nitish Kumar, alleging that the Bihar chief minister had "no principles" and, hence, was "more dangerous" than even the BJP.
"Modi has, of late, been showing a lot of reverence for the Constitution. If he means what he says, how are leaders of the BJP able to get away with their statements? Why is he taking no action against them", said Kharge, referring to recent utterances by leaders like Anant Hegde, Jyoti Mirdha and Lallu Singh.
The Congress president alleged that the BJP was out to implement the agenda of the RSS "which had played no role in the struggle for the country's independence", and warned that "the ongoing elections are critical for saving democracy and the Constitution in the country. If we fail, our future generations will suffer".
Kharge also lashed out at Nitish Kumar, who heads the JD(U), saying, "Our ally Tejashwi Yadav (RJD leader) has many times lamented the betrayal of his chacha (uncle). I say it is good riddance. People like Nitish Kumar are more dangerous than the BJP and RSS, which at least have a known ideology, however flawed. Nitish Kumar has no principles. He cares only for power".
Notably, Kumar dumped the INDIA bloc that he had helped form a few months ago when he returned to the NDA, less than two years after having snapped ties with the BJP accusing it of having tried to engineer a split in JD(U).
"The double engine in Bihar often meets with accidents, causing the train carriages to decouple", remarked Kharge, referring to the "unstable" nature of the BJP-JD(U) alliance.
He also lambasted Modi for "always alleging that in 70 years nothing substantial was achieved in the country and blaming the Congress for it". Kharge pointed out, "Our leaders like Indira Gandhi and Rajiv Gandhi lost their lives in attacks by terrorists who targeted them because they were trying to uphold the integrity of the nation."
Kharge also said the people should ask Modi what happened to his promise of 'achche din' (good days).
"Nowhere are to be seen the doubling of farmers' income and Rs 15 lakh in every person's account, drawn through black money he had promised to bring from abroad. Does he mean by 'achche din' skyrocketing prices of petrol and cooking gas and unemployment at an all-time high?," the Congress president asked.
Kharge also accused Modi in particular and the BJP in general of splurging money on "propaganda", and remarked "the source of their funding has become known. The electoral bonds were the biggest scam.
Companies have been shown to have bought bonds worth several times their turnover. Many business entities purchased these after raids by investigating agencies".
Kharge also alleged that central agencies, like ED, CBI and the Income Tax department, were being used to settle political scores and claimed that "more than 20 political leaders, who faced corruption charges, have got a clean chit after joining or allying with the BJP".
Urging the people to vote for the Congress and its allies, Kharge said, "Do not be swayed by the 'Modi ki guarantee' gimmick. You will not be able to hold anybody to account once the elections are over".
He also enlisted promises made by the Congress in its manifesto, like caste census, raising of MGNREGA wages to Rs 400 per day, the "right to apprenticeship" for youth and Rs one lakh annual dole to poor women.
"Modi says he saw an imprint of the Muslim League in our manifesto. I wonder what he means by that. Are all young people and women Muslims", Kharge asked with dismay.
