Data reveals nervous PepsiCo employees as CEO Indra Nooyi hands reigns to Ramon Laguarta
On October 3, PepsiCo, Inc. ($NASDAQ:PEP) CEO Indra Nooyi will step down after 12 years of leading the food, snack and beverage corporation.
According to a press release from the Fortune 500 corporation, Nooyi will be succeeded by Ramon Laguarta on that date, but will remain Chairman until early 2019 "to ensure a smooth and seamless transition."
During her 12-year tenure, she directed the company towards healthier and more nutritious food options for consumers - diet and low-fat alternatives to regular sodas and chips - that, under the portfolio of "Good for You" and "Better for You" options, grew from 38 percent of its revenue in 2006 to roughly 50 percent in 2017.
Nooyi's departure will also leave only 24 female chief executives among all Fortune 500 corporations.
Along with her success of leading the corporation that produces everything from Mountain Dew and Doritos to Quaker Oatmeal and Rice-A-Roni, Nooyi is respected by employees based on data we track from workplace review site Glassdoor.
With the average CEO rating coming in around 65 percent (per Glassdoor), Nooyi is above the line of an esteemed leader based on over 7,000 reviews submitted by employees ranging from corporate managers to bottling-plant machine operators.
Her positive reputation has also led to some fear of the unknown due to her exit; the day after the announcement, shares of the company dropped 3 percent on Wall Street (the stock is now currently stable at around $114). On Glassdoor, the business outlook of PepsiCo. has also fallen, but has not dipped below the 50 percent threshold at the time of publishing.
Laguarta will have some big shoes to fill and some shareholders to calm down as Nooyi transitions out of the company. However, with 22 years of prior experience within PepsiCo., its Board of Directors is confident that he will continue the corporation's success — so much so that they unanimously appointed him as their next CEO.
“Ramon is a strong and proven executive with an outstanding track record growing organically and by acquisition some of PepsiCo’s largest and most important international businesses," said Daniel Vasella, Chairman of the Board’s Nominating and Corporate Governance Committee. "He keenly understands the evolving needs of consumers and customers and the trends affecting our business in markets around the world. He will bring the depth of experience and innovative thinking that has powered his previous achievements as he is inheriting a well-positioned company poised to continue delivering top-tier performance."