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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Singer Sonu Nigam moves K'taka HC seeking quashing of criminal case over Kannada remark
Bengaluru, May 13 (PTI): Singer Sonu Nigam has approached the Karnataka High Court seeking to quash a criminal case registered against him over alleged offensive remarks made about the Kannadigas during a recent concert in Bengaluru.
The petition was listed before the vacation bench of Justice Shivashankar Amarannavar, who deferred the matter for hearing on a later date.
The controversy stems from an incident that occurred on April 25 at a live concert held at an engineering college in Bengaluru.
During the performance, several members of the audience requested Nigam to sing in Kannada. Reports state that the singer declined the request and expressed displeasure at the manner in which it was made, accusing some attendees of being impolite. Although Nigam affirmed his respect and admiration for Kannadigas, he allegedly drew a controversial parallel by stating, “This is the reason Pahalgam happened,” referencing a terror attack in Jammu and Kashmir’s Pahalgam region.
The statement quickly gained traction on social media and sparked outrage.
On May 2, TA Dharmaraj, president of the Bangalore City District Unit of the Karnataka Rakshana Vedike (Narayana Gowda faction), lodged a complaint over the remark.
Based on this complaint, Avalahalli police registered a case on May 3 under several provisions of the Bharatiya Nyaya Sanhita, 2023—specifically Sections 351(2) (criminal intimidation), 352(1) (insult intended to provoke breach of peace), and 353 (statements likely to incite public mischief).
Following the backlash, Nigam issued public statements expressing regret and apologised for his comments. However, the legal proceedings have continued, prompting the singer to file the present plea for dismissal of the charges.
