Indra Nooyi




American business executive















































Indra Nooyi

IndraNooyiDavos2010ver2.jpg
Nooyi at the World Economic Forum annual meeting in Davos, Switzerland, January 2010.

Born
Indra Krishnamurthy


(1955-10-28) 28 October 1955 (age 63)
Madras, (now Chennai)
Tamil Nadu, India
Residence Greenwich, Connecticut
Citizenship
United States[1]
Alma mater
Madras Christian College (BS)
Indian Institute of Management, Calcutta (MBA)
Yale University (MS)
Occupation
Board Member, Amazon
Employer PepsiCo
Salary $29.8 million (2016)
Spouse(s)
Raj K. Nooyi (m. 1981)
Children two daughters
Relatives
Chandrika Tandon (sister)[2]

Indra Nooyi (née Krishnamurthy; born 28 October 1955) is an Indian American[3] business executive, serving as a director of Amazon, the largest eCommerce business in the world by net revenue. [4]


[5][6][7]


She has consistently ranked among the world's 100 most powerful women.[8] In 2014, she was ranked at number 13 on the Forbes list of The World's 100 Most Powerful Women,[9] and was ranked the 2nd most powerful woman on the Fortune list in 2015.[10]


In February 2018, the International Cricket Council announced that Nooyi would join the ICC Board as its first independent female director in June.[11]




Contents






  • 1 Early life


  • 2 Education


  • 3 Career


    • 3.1 PepsiCo Executive




  • 4 Remuneration


  • 5 Awards and recognition


  • 6 Memberships and associations


  • 7 Personal life


  • 8 See also


  • 9 References


  • 10 External links





Early life


Nooyi was born to a Tamil-speaking family[12][13] in Madras (now known as Chennai), Tamil Nadu, India.[14] Nooyi did her schooling in Holy Angels Anglo Indian Higher Secondary School in T.Nagar.[15]



Education


Nooyi received a bachelor's degrees in Physics, Chemistry and Mathematics from Madras Christian College of the University of Madras in 1974 and a Post Graduate Programme Diploma from Indian Institute of Management Calcutta in 1976.[16]
In 1978, Nooyi was admitted to Yale School of Management where she earned a master's degree in Public and Private Management in 1980.[17]



Career


Beginning her career in India, Nooyi held product manager positions at Johnson & Johnson and textile firm Mettur Beardsell.
While attending Yale School of Management, Nooyi completed her summer internship with Booz Allen Hamilton.[17] In 1980, Nooyi joined the Boston Consulting Group (BCG) as a strategy consultant [18], and then worked at Motorola as Vice President and Director of Corporate Strategy and Planning [19], followed by a stint at Asea Brown Boveri.[20]



PepsiCo Executive


Nooyi joined PepsiCo in 1994 and was named CEO in 2001. She was named President and CEO in 2006 replacing Steven Reinemund, becoming the fifth CEO in PepsiCo's 44-year history.[21]. Nooyi has directed the company's global strategy for more than a decade and led PepsiCo's restructuring, including the 1997 divestiture of Tricon, now known as Yum! Brands. Tricon included companies like Pizza Hut, KFC, and Taco Bell under its umbrella [22]. The financial gains from this spinoff allowed the company to increase the pace of its share buyback strategy, thereby giving it more leverage to pursue future acquisitions without as much shareholder backlash [23]. Nooyi also took the lead in the acquisition of Tropicana in 1998,[24] and the merger with Quaker Oats Company, which also brought Gatorade in 2001,[25] The $3.3 billion acquisition of Tropicana initially faced opposition from other PepsiCo executives and Wall Street critics [26][27]. Acquiring Tropicana allowed PepsiCo to gain a competitive edge; Tropicana at the time captured 44% of the chilled orange juice segment, the fastest growing segment of the juice market, an especially positive metric when compared to Coca-Cola’s Minute Maid which captured less than half of Tropicana’s market share [28]. The Quaker Oats Company's ownership of Gatorade was a positive strategic move for PepsiCo, since Gatorade was responsible for 80% of sports drink sales at the time [29]. Similar to the Tropicana acquisition, this strategic move gave PepsiCo leverage against Coca-Cola, owner of Powerade – second in the sports drink segment [30]. PepsiCo's annual net profit rose from $2.7 billion to $6.5 billion.[31][32]


Nooyi was named on Wall Street Journal's list of 50 women to watch in 2007 and 2008,[33][34] and was listed among Time's 100 Most Influential People in The World in 2007 and 2008. Forbes named her the #3 most powerful woman in 2008.[35] In 2014, she was ranked #13 by Forbes.[9]Fortune ranked her the #1 most powerful woman in business in 2009 and 2010. On 7 October 2010 Fortune magazine ranked her the 6th most powerful woman in the world.[36][37] In Fortune's Most Powerful Women List of 15 September 2015, Nooyi ranked 2nd.[38]


Nooyi's strategic redirection of PepsiCo has been largely successful.[39] She reclassified PepsiCo's products into three categories: "fun for you" (such as potato chips and regular soda), "better for you" (diet or low-fat versions of snacks and sodas), and "good for you" (items such as oatmeal). Her initiative was backed up with ample funding. She moved corporate spending away from junk foods and into the healthier alternatives, with the aim of improving the healthiness of even the "fun" offerings.[32][40] In 2015, Nooyi removed aspartame from Diet Pepsi, furthering the shift towards healthier foods, despite lack of evidence of aspartame's harmful effects.[38]


Nooyi has stated an intent to develop a line of snacks marketed specifically for women, feeling that it is a hitherto unexplored category. In a radio interview, Nooyi stated that PepsiCo is getting ready to launch products designed and packaged according to women's preferences, and based on behavioral differences in the way men and women consume snacks.[41]


On 6 August 2018, PepsiCo Inc confirmed that Nooyi would step down as the CEO and Ramon Laguarta, a 22-year veteran of PepsiCo, would replace her on 3 October. Ramon Laguarta replaced her on that day, as well as becoming a member of the board of directors. However, Nooyi will continue to serve as the chairwoman of the company until early 2019.[42] During her tenure, the company's sales grew 80%. Nooyi served as CEO for 12 years, 7 years longer than the average CEO tenure at large companies according to an Equilar study.[43]



Remuneration


While CEO of PepsiCo in 2011, Nooyi earned $17 million, which included a base salary of $1.9 million, a cash bonus of $2.5 million, pension value and deferred remuneration of $3 million.[44] By 2014, her total remuneration had grown to $19,087,832, including $5.5 million of equity.[45]



Awards and recognition


In 2018, Nooyi was named one of the "Best CEOs In The World" by the CEOWORLD magazine[46]. Forbes magazine ranked Nooyi on the 2008 through 2017 lists of The World's 100 Most Powerful Women.[9][47]Fortune magazine has named Nooyi number one on its annual ranking of Most Powerful Women in business for 2006, 2007, 2008, 2009 and 2010.[48][49][50][51] In 2008, Nooyi was named one of America's Best Leaders by U.S. News & World Report.[52]
In 2008, she was elected to the Fellowship of the American Academy of Arts and Sciences.[53]


In January 2008, Nooyi was elected chairwoman of the U.S.-India Business Council (USIBC). Nooyi leads USIBC's Board of Directors, an assembly of more than 60 senior executives representing a cross-section of American industry.[54][55]


Nooyi has been named 2009 CEO of the Year by Global Supply Chain Leaders Group.[56]


In 2009, Nooyi was considered one of "The TopGun CEOs" by Brendan Wood International, an advisory agency.[57][58] After five years on top, PepsiCo's Indian American chairman and CEO Indra Nooyi has been pushed to the second spot as most powerful woman in US business by Kraft's CEO, Irene Rosenfeld.[59]


In 2013, Nooyi was named one of the "25 Greatest Global Living Legends" by NDTV. On 14 December 2013 she was awarded by the President of India Pranab Mukherjee at the Rashtrapati Bhavan.


Nooyi was named to Institutional Investor's Best CEOs list in the All-America Executive Team Survey in 2008 to 2011.[60]


The Yale School of Management will name its deanship in honour of Nooyi as she gifted an undisclosed amount, becoming the school's biggest alumni donor and the first woman to endow a deanship at a top business school.[61]

















































































Year Name Awarding organization Ref.
2018
 Honorary Degree
Cranfield University
 [62]
2015
 Honorary Doctorate of Humane Letters
State University of New York at Purchase
 [63]
2013
 Honorary Degree
North Carolina State University
 [64]
2011
 Honorary Doctor of Laws
Wake Forest University
 [citation needed]
2011
 Honorary Doctor of Laws
University of Warwick
 [65]
2011
 Honorary Doctorate of Law
Miami University
 [66]
2010
 Honorary Doctorate of Humane Letters
Pennsylvania State University
 [67]
2009
 Honorary Degree
Duke University
 [68]
2009
 Barnard Medal of Honor
Barnard College
 [69]
2008
 Honorary Degree
New York University
 [70]
2007
Padma Bhushan
President of India
 [71]
2004
 Honorary Doctor of Laws
Babson College
 [72]


Memberships and associations


Nooyi is a Successor Fellow of the Yale Corporation.[73] She serves as a member of the Foundation Board of the World Economic Forum, International Rescue Committee, Catalyst[74] and the Lincoln Center for the Performing Arts. She is also a member of the Board of Trustees of Eisenhower Fellowships, and has served as Chairperson of the U.S.-India Business Council.


Nooyi serves as an Honorary Co-Chair for the World Justice Project. The World Justice Project works to lead a global, multidisciplinary effort to strengthen the Rule of Law for the development of communities of opportunity and equity.


In December 2016, Nooyi joined a business forum assembled by Donald Trump to provide strategic and policy advice on economic issues.[75]



Personal life


Indra married Raj K. Nooyi, president at AmSoft Systems, in 1981.[76] Nooyi has two daughters and resides in Greenwich, Connecticut. One of her daughters is currently attending the School of Management at Yale, Nooyi's alma mater.[77] Forbes ranked her at the 3rd spot among 'World's Powerful Moms' list.[78]


Her older sister is businesswoman and Grammy-nominated artist Chandrika Krishnamurthy Tandon.[79]


In India, she used to play cricket and was also in an all-girl rock band, where she played guitar.[80]



See also


  • Indians in the New York City metropolitan region


References





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  62. ^ [1]


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  64. ^ Ford, D'Lyn (4 November 2013) Freelon to Speak at NC State Commencement. news.ncsu.edu


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  75. ^ Kell, John (14 Dec 2016). "PepsiCo CEO Indra Nooyi Joins Trump's Business Council". Fortune. Retrieved 1 June 2017.


  76. ^ "PepsiCo's CEO shares the trick that has helped her stay married for 37 years".


  77. ^ Credeur, Mary Jane (15 August 2006). "Pepsi's Indra Nooyi Led Non-Soda Growth; Women CEO Exemplar". Bloomberg, L.P. Retrieved 17 August 2011.


  78. ^ "Clinton, Nooyi, Sonia among 'World's Powerful Moms' list". 13 May 2012.


  79. ^ Seabrook, John. "Snacks for a Fat Planet". Retrieved 28 May 2013.


  80. ^ "Indra Nooyi on making Pepsico "good for you"". Archived from the original on |archive-url= requires |archive-date= (help). Retrieved 1 November 2018.




External links















  • PepsiCo corporate biography

  • Forbes Profile: Indra Nooyi

  • The Pepsi Challenge, profile Indra Nooyi (Fortune)

  • Reference for Business: Indra Nooho Leadership Biography

  • Video of discussion with Indra Nooyi at the Asia Society, New York, 4/14/2009


  • Indra Nooyi Video produced by Makers: Women Who Make America


  • Appearances on C-SPAN






Preceded by
Steven Reinemund
Chairwoman and CEO of PepsiCo
2006 – Present
 Succeeded by
Incumbent










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