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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Deepika Kumari leads Indian recurve archery team to dramatic World Cup gold
Shanghai (PTI): The Indian trio of Deepika Kumari, Ankita Bhakat and teenager Kumkum Mohod held their nerve in a tense shoot-off to beat home favourites China and clinch the women's recurve team gold medal at the Archery World Cup Stage 2 here on Sunday.
In a final marked by fluctuating fortunes, India edged past the home side 5-4 (28-26) in the shoot-off after the four-set regulation ended 4-4.
The victory was especially sweeter as India had earlier stunned record 10-time Olympic champions South Korea in the semifinals en route to their first World Cup women's team gold since 2021.
Deepika, who was also part of India's World Cup-winning teams in Guatemala City and Paris in 2021, now has seven World Cup team gold medals to her name since 2010.
It was also the Indian women recurve team's first World Cup medal in three years, its previous podium finish coming in Stage 4 in Paris in 2023 where Ankita was a member of the winning team.
India's campaign in Shanghai has thus already yielded two medals after compound archer Sahil Jadhav opened the country's account, securing a bronze on Saturday.
India also remained in contention for another podium finish later in the day with recurve archer Simranjeet Kaur set to compete in the semifinals. She is a win away from her maiden individual World Cup medal.
Travelling without a full-time national coach amid the continuing impasse over appointments, it was the vastly experienced Deepika who led from the front, constantly motivating her teammates during breaks and changeovers.
Prafull Dange, who was the designated women's recurve coach after his ward Kumkum topped the national trials, largely remained in the background as Deepika guided the side through the pressure moments against a hostile home crowd and vocal Chinese support staff.
Against a young Chinese side comprising Zhu Jingyi, Huang Yuwei and teenage archer Yu Qi, who all made their World Cup debuts only last year, India looked in control initially but nearly let the match slip after taking the opening set (54-53).
Shooting last in the Indian order, Deepika set the tone with successive 10s as India edged the first set despite Ankita (8-8) and 17-year-old Kumkum (10-8) putting up an inconsistent show.
Deepika continued her fine rhythm in the second set with another perfect 10 as India briefly held a one-point advantage (28-27) midway through the end. But China responded strongly with two 9s and a 10 in their final three arrows of the second set to post 55.
Ankita replied with a 9, but Kumkum managed only an 8, leaving Deepika needing a 10 to level the set.
The four-time Olympian, however, slipped to a 7 as India lost the set 52-55 and China drew level at 2-2.
The hosts then moved ahead in the third set. The teams were initially tied at 56, but a review upgraded China's final arrow from 8 to 9, handing them the set 57-56 and a 4-2 lead.
India appeared on the verge of defeat in the fourth set despite Deepika rediscovering her touch with two 10s. Kumkum's final arrow landed in the 7-ring as India posted a modest 54.
China required two 10s and a 9 from their last three arrows to seal the match.
Zhu and Huang delivered perfect 10s, leaving 18-year-old Yu Qi needing a 9 for victory in front of the home crowd.
But the youngster shot an 8, allowing India a dramatic escape and forcing a shoot-off.
The Indians peaked at the right moment in the decider. Ankita opened with a 9, Kumkum followed with a superb 10, and Deepika calmly delivered a 9 when only an 8 was needed to seal the title.
