Indra Nooyi announced this morning she will leave her position as CEO of Pepsico October 3, reports CNN.
She will be replaced by Pepsi’s (PEP) global operations chief Ramon Laguarta.
“Growing up in India, I never imagined I’d have the opportunity to lead such an extraordinary company,” she said in a statement.
Pepsi’s growth during her 12 year tenure, 79 percent, lagged behind Coca-cola,112%, according to CNBC. She resisted those who thought it would be best to split the company in two and instead kept the snack and beverage divisions together.
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