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PepsiCo names Nooyi as first female chief executive

NEW YORK - PepsiCo has appointed its first female chief executive, Indra Nooyi, who will take up her role in October.

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Nooyi is presently chief financial officer at the company. She will take over from Steve Reinemund, chairman and CEO of Pepsico, who will continue as executive chairman until he retires in May next year.

Nooyi has been with Pepsico since 1994, and was behind the company's restructuring that spun off restaurant brands KFC and Pizza Hut into Yum! Brands, and also the spin off and public offering of Pepsi's bottling operations into the Pepsi Bottling Group.

The chief financial officer role will now be split between two executives, Richard Goodman and Hugh Johnston.

Reinemund said: "Indra's record of transforming PepsiCo speaks for itself, and she has been an invaluable partner and ally throughout my time as CEO.

"She not only co-authored our vision and drafted our strategic blueprint, she has a sharp talent for turning insightful ideas and plans into realities and for developing and replenishing our talent base."

Reinemund steps down after five years as CEO and 22 years at the company.

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