Indra Nooyi, the CEO of PepsiCo, is also to assume the job of chair in May. - Reuters
NEW YORK, United States (AP):
PepsiCo Inc. said Monday that Chief Executive Indra K. Nooyi will assume the additional title of chairwoman of the soft drink and snack food company.
As its CEO, she was already one of the highest-ranked women leaders in corporate America.
Nooyi takes on the second title effective May 2 at the retirement of former CEO Steven Reinemund as chairman. She succeeded him as CEO on October 1.
With PepsiCo ranked number 61 on the Fortune 500, Nooyi ranks number two among 10 female CEOs of the biggest U.S. companies.
Only Patricia A. Woertz ranks higher as chief of Archer Daniels Midland Company, which is number 56 on the list, according to the Catalyst organisation.
Nooyi, 51, has been at PepsiCo since 1994 and has been credited with shifting the company to build a portfolio of healthier foods, including the acquisition of the Quaker Oats and Tropicana brands.
Before she became CEO, she served as president and chief financial officer. PepsiCo owns the Pepsi soft drink and the Frito-Lay snack food businesses.
"I'm incredibly honoured by the board's confidence," Nooyi said in a statement released Monday.
The company is the number two soft drink maker after rival Coca-Cola Company and has been adding beverages to expand its non-carbonated soft drink offerings.
Protein drink
It sells water under the Aquafina brand and has bought the maker of sparkling fruit drink Izze. In snacks, it has acquired the companies that make Stacy's Pita Chips and Mother's Natural Cereals. It has also started selling a protein drink called Fuelosophy and Sun Snacks chips at certain Whole Foods market locations.
PepsiCo first announced in August that Reinemund was retiring to spend more time with his family. Reinemund, 58, served as CEO for five years. He has worked at Purchase, New York-based PepsiCo for 23 years.
At the time, analysts said the announcement had surprised them given Reinemund's comparatively short tenure as CEO. He was just the company's fourth chairman and chief executive in the company's 42-year history.
Reinemund followed Roger Enrico (1996-2001), Wayne Calloway (1986-1996) and Donald Kendall (1971-1986). Herman Lay was PepsiCo's first chairman; Kendall was CEO.
