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."
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
8 children between ages of 1 and 14 dead after mass shooting in Louisiana, police say
Shreveport(US) (AP): A gunman in Louisiana killed eight children in shootings at two different homes early Sunday in the nation's deadliest mass shooting in more than two years, police in Shreveport said.
The victims ranged in age from one to about 14 years old, said Shreveport police spokesperson Chris Bordelon. A total of 10 were shot and some of the children were related to the suspect, Bordelon said.
The gunman later died after a chase with officers who fired at the suspect, Bordelon said. The suspect stole a car while leaving the scene of the shootings and was followed by police, according to Bordelon.
Police did not release the name of the suspect but did say he was an adult male. The shootings were the result of a “domestic disturbance,” Bordelon said.
Officials said they were still gathering details at the crime scenes south of downtown Shreveport — the two homes and a third location.
“This is an extensive scene unlike anything most of us have ever seen,” he said.
It was the deadliest mass shooting in the US since eight people were killed in a Chicago suburb in January 2024, according to a database maintained by The Associated Press and USA Today in partnership with Northeastern University.
At a news conference outside the residence where one of the shootings occurred, officials appeared stunned, requesting patience and prayers from the community as they sorted through multiple crime scenes.
“I just don't know what to say, my heart is just taken aback,” Shreveport Police Chief Wayne Smith said. “I cannot begin to imagine how such an event could occur.”
“This is a tragic situation — maybe the worst tragic situation we've ever had,” said Tom Arceneaux, mayor of the city in northwestern Louisiana with about 180,000 residents. “It's a terrible morning.”
Louisiana State Police say their detectives have been asked by Shreveport police to investigate. In a statement, state police say no officers were harmed in the shooting that involved an officer after a police pursuit into Bossier City on Sunday morning.
State police are asking anyone with pictures, video or information to share it with state police detectives.
Louisiana Gov Jeff Landry said in a statement that he and his wife were heartbroken. “We're deeply grateful to the law enforcement officers and first responders working tirelessly on the scene,” he added.
