White House considering India-born, former PepsiCo CEO Indra Nooyi to lead World Bank: report
New York, Jan 16: India-born Indra Nooyi, the former CEO of global beverage giant PepsiCo, is being considered by the White House for the new World Bank president, according to a leading American daily.
Nooyi, 63, stepped down as PepsiCo's chief last August after leading the company for 12 years.
She "has been courted as an administration ally by Ivanka Trump, the president's eldest daughter who is playing a role in the selection of a nominee," the The New York Times said.
The report, which cited several people familiar with the process, said the decision-making process for the top post at the World Bank is "fluid and in its initial stages and early front-runners and candidates often fall off the radar, or withdraw from consideration, before the president (Donald Trump) makes his ultimate pick".
It is unclear whether Nooyi would accept the nomination if chosen by the Trump administration.
The first daughter, who has tweeted that she views Nooyi as a "mentor + inspiration", has floated her name as a potential successor.
World Bank's current president Jim Yong Kim had earlier this month announced that he would step down from his post in February to join a private infrastructure investment firm. His unexpected departure came nearly three years before the end of his term.
The NYT report said that the process of choosing Kim's successor is being overseen by Treasury Secretary Steven Mnuchin, acting chief of staff Mick Mulvaney and Ivanka, whose role in the process was announced by the White House Monday.
Ivanka's "role in the process drew some criticism from ethics watchdogs Monday, which said it could pose a conflict of interest for the president's daughter to be involved in international economic matters when she has not completely divested from her assets," the report said.
The group was expected to begin the interview process Tuesday, in order to present President Trump with recommendations for a nominee.
Nooyi joined Trump's business council, which was disbanded after many chief executives quit following the president's comments blaming "many sides" for white supremacist violence in Charlottesville, in August 2017.
The report, however, added that negative comments made by Nooyi after the 2016 election, during which she did not publicly endorse any candidate, are seen as a potential roadblock to her nomination.
Following Trump's win, she said at the NYT's DealBook conference in 2016 that "Our employees are all crying. And the question that they're asking, especially those who are not white: 'Are we safe?' Women are asking: 'Are we safe?' LGBT people are asking: 'Are we safe?' I never thought I'd have had to answer those questions".
A spokesman for PepsiCo had told Fortune magazine that "Mrs. Nooyi misspoke. She was referring to the reaction of a group of employees she spoke to who were apprehensive about the outcome of the election. She never intended to imply that all employees feel the same way".
Other candidates being considered for the position of World Bank head are under secretary of the Treasury for International Affairs David Malpass and president of the Overseas Private Investment Corporation Ray Washburne.
The US president cannot install the World Bank leader, who must be approved by the bank's board, but has traditionally placed his nominee in the job.
Trump has already faced harsh criticism for appointing his daughter as a senior White House advisor.
Ivanka is a successful businesswoman, fashion designer, author and reality television personality. She has her own line of fashion items, including clothes, handbags, shoes, accessories which are available in all major US departmental stores.
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India, Ethiopia elevate ties to strategic partnership as PM Modi holds talks with his counterpart
Addis Ababa (PTI): India and Ethiopia on Tuesday elevated their historical ties to a strategic partnership, as Prime Minister Narendra Modi held wide-ranging talks with his Ethiopian counterpart Abiy Ahmed Ali during which they discussed issues of bilateral and mutual interest.
Modi, who arrived here from Jordan on his maiden bilateral visit, was accorded a ceremonial welcome at the National Palace ahead of the bilateral talks, reflecting the vibrant India-Ethiopia relations rooted in shared history and a promising future.
"We are elevating India and Ethiopia relations to a strategic partnership. This step will provide new energy, new momentum and new depth to our ties," Prime Minister Modi said during the delegation-level talks.
He thanked PM Ali for his support in India's fight against terrorism. "The support of friendly countries in this struggle against terrorism holds great significance," Modi said.
"Today, we got the opportunity to deliberate on the key aspects of our cooperation, such as economy, innovation, technology, defence, health, capacity-building and multilateral cooperation. I am pleased that today, we have decided to double the student scholarship for Ethiopia in India," Modi said.
Modi said that India and Ethiopia have shared contact, dialogue, and exchange for thousands of years. The two countries, which are rich in languages and traditions, are symbols of unity in diversity, he added.
"Both countries are democratic powers committed to peace and the welfare of humanity. We are co-travellers and partners of the Global South. On international platforms, we have stood shoulder-to-shoulder," he said.
The two sides signed eight MoUs/agreements, including upgrading ties to 'Strategic Partnership', customs cooperation, establishing data center at the Ethiopian Foreign Ministry, UN Peacekeeping training cooperation, debt restructuring under G20, more ICCR scholarships and AI short courses for Ethiopians, and support for maternal and neonatal healthcare.
Modi said the African Union's headquarters in Ethiopia makes the country a meeting point of African diplomacy. "Inspired by the common vision of an inclusive world, in 2023, India ensured that the African Union became a G20 member," he said.
In 2023, during India’s G20 Presidency, the African Union was admitted as a permanent member of the G20.
Modi said that though this is his first visit, he felt a deep sense of belonging and warmth, reflecting the thousands of years of connection between the two countries.
On his part, Prime Minister Ali said the two countries share over thousands of years of connection through trade, diplomacy, education, culture and even in our food and traditions. "These ties continue to shape a deep friendship, collaboration and mutual respect between our people," he said.
"We also appreciate your consistent message that Africa's priorities must lead the partnership. These kinds of dignified, respectful messages for Africa are very important. Mr Prime Minister, keep pushing. That is the type of message we are expecting from all our trusted friends," Ali said.
He said this aligned fully with Ethiopia's development plan - African-owned, African-led, and African-defined.
"Today, we meet with a clear focus to shape a modern partnership, grounded in sovereignty, self-reliance and practical cooperation. Our cooperation is rooted in equality and South-South solidarity," he said.
"Our economy is performing strongly. Last year, we grew 9.2% and this year we are expecting 10.3% GDP growth. Besides GDP growth, our FDI inflow is also rising big time. India is the leading source for our FDI," he said.
"We have more than 615 Indian companies which are investing in Ethiopia. This all gives our cooperation a strong foundation of trust. I think our decision today that we elevate our historic relationship to a strategic relationship is the right decision," he added.
Ethiopia also conferred its highest award - The Great Honour Nishan of Ethiopia - on PM Modi. He is the first global head of state to receive this award.
Prime Minister Modi also went to the Friendship Park and Friendship Square in Addis Ababa with PM Ali.
In a warm and special gesture, PM Modi was earlier received by his Ethiopian counterpart at the airport and accorded a warm and colourful welcome.
"Ethiopia is a nation with great history and vibrant culture," Modi said.
PM Ali informed his Indian counterpart about the varieties of Ethiopian coffee during informal talks.
"At Addis Ababa airport, took part in a traditional Coffee Ceremony with Prime Minister Abiy Ahmed Ali. The ceremony beautifully highlights Ethiopia’s rich heritage," Modi said.
In a unique gesture, the Ethiopian Prime Minister drove Modi to the hotel.
On the way, he took a special initiative of taking PM Modi to the Science Museum and Friendship Park, which was not in the itinerary.
"Gratitude to Prime Minister Abiy Ahmed Ali for showing me glimpses of Ethiopian history and culture at the National Palace Museum in Addis Ababa. It was a powerful reminder of Ethiopia’s rich traditions," Modi said in a post on X.
The Nobel Peace Prize-winning Ethiopian PM’s special gestures show remarkable respect for Modi, sources said.
"Thank you Ethiopia for a welcome that was unforgettable. The Indian community showed remarkable warmth and affection. India-Ethiopia friendship is going to get even more robust in the times to come," Modi said.
When Modi arrived at the hotel, he was warmly welcomed by the members of the Indian community. Local artists performed dances. Some of them danced on the theme of the popular Hindi song 'Aisa Des Hai Mera' to welcome him.
On Wednesday, Modi will address the Joint Session of Parliament and share his thoughts on India's journey as the "Mother of Democracy" and the value that the India-Ethiopia partnership can bring to the Global South.
PM Modi arrived in Ethiopia from Jordan, where he held a one-on-one meeting with King Abdullah II at the Husseiniya Palace on Monday before the delegation-level talks.
India and Jordan also inked MoUs in the fields of culture, renewable energy, water management, digital public infrastructure and twinning arrangement between Petra and Ellora, aimed at giving a major boost to bilateral ties and friendship.
From Ethiopia, Modi will visit Oman on the final leg of this three-nation tour.
