Under Indra Nooyi's tenure, Pepsico's revenue grown by more than 80 per cent
Born in Chennai, Indira Nooyi has successfully changed the face of beverage major Pepsico with her agenda of "performance with purpose" by offering more nutritious products.
Born in Chennai, Indira Nooyi has successfully changed the face of beverage major Pepsico with her agenda of "performance with purpose" by offering more nutritious products. During her 12-year stint as CEO, PepsiCo saw its revenue grow by more than 80 per cent and added a new billion-dollar brand almost every other year. Nooyi (62) invested in the future of the company and during her tenure Pepsico's spendings on R&D almost got trebled.
She focused on delivering sustainable long-term growth while leaving a positive imprint on society and the environment. This included transforming PepsiCo's portfolio and offering healthier options while making food system more sustainable. PepsiCo today announced that Indra Nooyi will step down as its CEO after heading the world's second-largest food and beverage giant for 12 years.
Nooyi, a graduate from Madras Christian College and MBA from IIM Calcutta, who had been at the helm of affairs of USD 63.5 billion Pepsico for almost 12 years, oversaw a number of key restructurings during her 24 years' tenure at New York-Headquartered food and beverage giant. She joined PepsiCo in 1994 and had an immediate influence on the company's strategic direction. She was instrumental in PepsiCo spinning off its Pizza Hut, KFC and Taco Bell restaurants for USD 4.5 billion.
Nooyi also played a key role in PepsiCo's acquisition of Tropicana and Quaker Oats. Besides, under Nooyi's tenure, PepsiCo focused on reaching out to the emerging markets and rapidly expanding middle classes there. Issuing a statement, PepsiCo said: "Under Nooyi's leadership, our revenue has grown by more than 80 per cent and we have added a new billion-dollar brand almost every other year." Moreover, during her tenure, PepsiCo "developed new design and eCommerce capabilities, a business which generated $1 billion in annual retail sales last year".
Terming her as "truly a pioneer" Pepsico said she was responsible for spearheading its 'performance with purpose' vision. This was to offer "more nutritious products, limit environmental impact and support people and the communities". PepsiCo is presently globally the second-largest food and beverage company and her admirers credit it to Nooyi. During her stint, PepsiCo Inc, along with its partners, had on November 2013 announced to invest USD 5.5 billion (Rs 33,000 crore) to double its manufacturing capacity in India by 2020.
"I am especially proud of the great work we have done in India to transform our portfolio to include more nutritious products, working with and supporting thousands of Indian farmers, and providing an inclusive workplace in which our associates in India can bring their whole selves to work everyday. That will not change," said Nooyi in her statement.