PepsiCo CEO Indra Nooyi is considered one of the most powerful women in business. After 12 years as CEO she is stepping down.
During her 22 year stint at PepsiCo (PEP - Get Report) she was instrumental in expanding the brand. In 2000 she helped engineer the purchase of Quaker Brands, which includes sports drink Gatorade. After becoming CEO in 2006 she made it a priority to include healthier foods in the Pepsi lineup.
Yet, shares of Pepsi have lagged since 2017 and she may have felt this was the right time to step down.
The President of Pepsi, Ramon Laguarta, will replace her as CEO in October. He previously ran Pepsi's Europe/Sub-saharan Africa division.
PepsiCo is a holding of Jim Cramer's charitable trust, Action Alerts Plus.