Nooyi quits Pepsico, says ‘ lot of fuel still left, want to do something different with my life’

Pepsico's Indian- origin CEO Indra Nooyi, who stepped down on Wednesday after 12 years at the helm of the global beverage giant, said that "lot of fuel" is still left in her "tank" and she looks forward to doing something different with her life and spend more time with her family.

Chennai- born Nooyi not only broke the glass ceiling in corporate America when she was named CEO of the global beverage giant in 2006 but, through her journey, inspired millions of young Indians who dreamed of and aspired to emulate the success the India- born woman achieved in America.

Ramon Laguarta, 54, assumed the role of Chief Executive Officer of the global beverage giant PepsiCo Wednesday, succeeding 62- year- old Nooyi.

In her concluding remarks during PepsiCo's Third Quarter 2018 Earnings Conference Call on Tuesday, Ms Nooyi said, "You know 12 years is a long time as a CEO, and even though I have a lot of fuel still left in my tank. I wanted to do something different with my life. Spend more time with my family and give the next generation in PepsiCo a chance to lead this great company."

Ms Nooyi said she has been blessed to have had the opportunity to lead PepsiCo and “work with such incredible people including our outstanding board, executives and other associates, our customers and other partners, our shareholders and all our other stakeholders.”

It was Nooyi's 75th such earnings call she had participated in as the company's CEO or CFO.

Nooyi stepped down after 24 years with the company, the last 12 as CEO. She will remain Chairman until early 2019 to ensure a smooth and seamless transition.

PepsiCo's Board of Directors had in August announced that they unanimously elected Laguarta to succeed Nooyi as CEO. Laguarta was also elected to the company's Board of Directors, effective October 3.

Laguarta is the sixth CEO in PepsiCo's 53- year history.

One of the most powerful and influential business leaders in the world, Nooyi was regularly featured on power lists compiled by Forbes and Fortune magazines. She was also among the few female executives to lead global corporate giants. Just under five per cent of Fortune 500 companies currently have a female CEO.

Nooyi will remain Chairman until early 2019 to ensure a smooth and seamless transition. Laguarta is the sixth CEO in PepsiCo's 53- year history