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PepsiCo CEO stepping down

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PepsiCo CEO Indra Nooyi is stepping down after 12 years leading the company.

Company President Ramon Laguarta is slated to succeed Nooyi in October. Nooyi will stay on as chairwoman until early 2019.

“Ramon Laguarta's unanimous appointment follows a systematic and thorough succession process by the board of directors. Laguarta equally represents continuity and the necessary agility for PepsiCo,” said Daniel Vasella, chairman of the board's nominating and corporate governance committee.

Read more from Fox Business.

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