Longtime Pepsi CEO Indra Nooyi has decided to step down from her position and become the chairwoman of PepsiCo’s board of directors through the next year. Her term is set to end on October 3rd, 2018. While the news comes as a surprise, it also creates an opportunity to discuss the prominence of women CEO’s in the workforce, and how powerful women like Nooyi have changed the business industry for the better.
The 62-year old served for 12 years, turning the PepsiCo brand into one of the most successful food and beverage companies on the market. During her time, sales increased a whopping 80 percent, she helped make Pepsi more environmentally friendly, and she led the way for a stronger presence of women in positions of power.
Born in India, Nooyi moved to the U.S. in 1978 to study business management at Yale School of Management. She worked for Pepsi for 24 years, half of which were served as CEO. Pepsi remains to be a Fortune 500 company, with Ramon Laguarta in sights to take her position.
With this news, now less than 5 percent of S&P 500 companies will be run by women, a minority that is too small to go un-talked about. Not only that, but she is foreign-born as well. The reason we need women and minorities in these positions of power is to show the diversity of American companies and the ability for anyone to take charge and head a successful business. If we continue to see the same general figure as the “stereotypical CEO” in the news, it will discouraged hopeful business majors and entrepreneurs who do not fit the quota from reaching their full potential.
While we will mourn the resignation of Nooyi, we should also be reminded that this is merely a beginning, not an end, to females and minorities in power.
