Published on Tue, Feb 06, 2007 at 09:00 | Source : Moneycontrol.com
Updated at Tue, Feb 06, 2007 at 11:33
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Pepsi names Indra Nooyi as Chairperson
The Board of Pepsico elected CEO Indra Nooyi as Chairperson on Monday. Nooyi, who took over as CEO of the soft drink and food company last October, will succeed Chairman Steven Reinemund on May 2, reports CNBC-TV18
The Board of Pepsico elected CEO Indra Nooyi as Chairperson on Monday. Nooyi, who took over as CEO of the soft drink and food company last October, will succeed Chairman Steven Reinemund on May 2, reports CNBC-TV18
It took 51-year-old Indra Nooyi only 13 years to reach the top at Pepsico. The Chennai-born Nooyi was named the most powerful woman in business last year by Fortune Magazine, and the fourth most powerful woman in the world by Forbes.
Nooyi, who joined the soft drink and snack food multinational in 1994, took over as CEO last October, and will assume the title of chairwoman in three months.
Chana Schoenberger, Associate Editor, Forbes, says, "There's actually been a trend in corporate governance away from having the Chairman and CEO be the same person. A lot of companies are now having a Chairman and then a separate person as the CEO, and then a third person might run the board as the presiding director."
"So the fact that Pepsi's board wanted to give her both of these jobs means that they are very confident in her leadership. So yeah, it's a good sign for women," adds Schoenberger.
Pepsi, a USD 32-billion company based in Purchase, New York, is the world's second largest soft drink maker, behind rival Coca-Cola.
At Pepsi, Nooyi has been instrumental in the acquisition of the Quaker Oats and Tropicana brands, and pushing for a wider portfolio of healthier foods and beverages.
As CEO of Pepsi, Indra Nooyi was already one of the most powerful women in the corporate world. Now after being elected chairperson of the board, she has struck a blow not only for female executives, but also the Indian American community.
Chana Schoenberger, Associate Editor, Forbes, says, "There's actually been a trend in corporate governance away from having the Chairman and CEO be the same person. A lot of companies are now having a Chairman and then a separate person as the CEO, and then a third person might run the board as the presiding director."
