Indra Nooyi

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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
EmployerPepsiCo
Salary$29.8 million (2016)
Spouse(s)
Raj K. Nooyi(m. 1981)
Children2 daughters
Relatives Chandrika Tandon (sister) [2]

Indra Nooyi (née Krishnamurthy; born 28 October 1955) is an Indian American [3] business executive, serving on the board of directors of Amazon, the largest eCommerce business in the world by net revenue. [4] [5] [6] [7]

Amazon (company) American electronic commerce and cloud computing company

Amazon.com, Inc., is an American multinational technology company based in Seattle, Washington that focuses on e-commerce, cloud computing, digital streaming and artificial intelligence. It is considered one of the Big Four technology companies along with Google, Apple and Facebook.

Contents

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]

Since 2004, Forbes has compiled a list of the 100 most powerful women in the world. It is edited by notable Forbes journalists, including Moira Forbes, and is based on visibility and economic impact. German Chancellor Angela Merkel has remained at the top spot since 2006, with the brief exception of 2010 where she was temporarily supplanted by then U.S. First Lady Michelle Obama.

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

The International Cricket Council (ICC) is the global governing body of cricket. It was founded as the Imperial Cricket Conference in 1909 by representatives from Australia, England and South Africa. It was renamed as the International Cricket Conference in 1965, and took up its current name in 1989.

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]

Tamil language language

Tamil is a Dravidian language predominantly spoken by the Tamil people of India and Sri Lanka, and by the Tamil diaspora, Sri Lankan Moors, Douglas, and Chindians. Tamil is an official language of three countries: India, Sri Lanka and Singapore. It is also the official language of the Indian state of Tamil Nadu and the Union Territory of Puducherry. It is used as one of the languages of education in Malaysia, along with English, Malay and Mandarin. Tamil is spoken by significant minorities in the four other South Indian states of Kerala, Karnataka, Andhra Pradesh and Telangana and the Union Territory of the Andaman and Nicobar Islands. It is one of the 22 scheduled languages of India.

Chennai Megacity in Tamil Nadu, India

Chennai is the capital of the Indian state of Tamil Nadu. Located on the Coromandel Coast off the Bay of Bengal, it is the biggest cultural, economic and educational centre of south India. According to the 2011 Indian census, it is the sixth-most populous city and fourth-most populous urban agglomeration in India. The city together with the adjoining regions constitute the Chennai Metropolitan Area, which is the 36th-largest urban area by population in the world. Chennai is among the most-visited Indian cities by foreign tourists. It was ranked the 43rd-most visited city in the world for the year 2015. The Quality of Living Survey rated Chennai as the safest city in India. Chennai attracts 45 percent of health tourists visiting India, and 30 to 40 percent of domestic health tourists. As such, it is termed "India's health capital". As a growing metropolitan city in a developing country, Chennai confronts substantial pollution and other logistical and socio-economic problems.

Tamil Nadu State in Southern India

Tamil Nadu, formerly Madras State, is one of the 29 states of India. Its capital and largest city is Chennai. Tamil Nadu lies in the southernmost part of the Indian subcontinent and is bordered by the union territory of Puducherry and the South Indian states of Kerala, Karnataka, and Andhra Pradesh. It is bounded by the Eastern Ghats on the north, by the Nilgiri Mountains, the Meghamalai Hills, and Kerala on the west, by the Bay of Bengal in the east, by the Gulf of Mannar and the Palk Strait on the southeast, and by the Indian Ocean on the south. The state shares a maritime border with the nation of Sri Lanka.

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]

The Madras Christian College (MCC) is an arts and sciences college based in Madras (Chennai), Tamil Nadu, India. Consistently ranked among the top ten colleges in India, it is considered to be one of the most prestigious colleges in India. Founded in 1837, MCC is one of Asia's oldest extant colleges. The college is affiliated to the University of Madras but functions as an autonomous institution from its main campus in Tambaram, Chennai.

University of Madras public university in India

University of Madras is a public state university in Chennai, Tamil Nadu, India. Established in 1857, it is one of the third oldest universities in India immediately after University of Calcutta and University of Mumbai .The university was incorporated by an act of the Legislative Council of India.

Indian Institute of Management Calcutta public business school located in Kolkata, West Bengal

Indian Institute of Management Calcutta is a public business school located in Joka, Kolkata, West Bengal, India. It was the first Indian Institute of Management to be established. IIM Calcutta is the first and only triple accredited management school from India (and one amongst 86 such business schools globally. It offers a two-year full-time Post Graduate Diploma in Management, Fellow Program in Management, and Executive Post Graduate Diploma in Management. It is one of the top B-schools in India and is counted among the topmost "ABC" IIMs — the other two being IIM Ahmedabad and IIM Bangalore.

Career

Beginning her career into 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, [18] followed by a stint at Asea Brown Boveri. [19]

Johnson & Johnson U.S multinational medical devices, pharmaceutical and consumer packaged goods manufacturer

Johnson & Johnson is an American multinational medical devices, pharmaceutical and consumer packaged goods manufacturing company founded in 1886. Its common stock is a component of the Dow Jones Industrial Average and the company is ranked No. 37 on the 2018 Fortune 500 list of the largest United States corporations by total revenue. J&J is one of the world's most valuable companies.

Yale School of Management

The Yale School of Management is the graduate business school of Yale University in New Haven, Connecticut. The School awards the Master of Business Administration (MBA), MBA for Executives (EMBA), Master of Advanced Management (MAM), Master's Degree in Systemic Risk, Master's Degree in Global Business & Society, Master's Degree in Asset Management, and Ph.D. degrees, as well as joint degrees with nine other graduate programs at Yale University. As of August 2015, 668 students were enrolled in its MBA program, 114 in the EMBA program, 63 in the MAM program, and 51 in the PhD program; 122 students were pursuing joint degrees. In the 2017–18 school year, the school launched a one-year Master of Management Studies degree in Systemic Risk. The School has 86 full-time faculty members, and the dean is Edward A. Snyder.

Booz Allen Hamilton Holding Corporation is the parent of Booz Allen Hamilton Inc., an American management and information technology consulting firm, headquartered in McLean, Virginia, in Greater Washington, D.C., with 80 other offices around the globe. The company's stated core business is to provide consulting, analysis and engineering services to public and private sector organizations and nonprofits.

PepsiCo Executive

Nooyi joined PepsiCo in 1994 and was named CEO in 2006 [20] . 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.[ citation needed ] 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.[ citation needed ] 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.[ citation needed ] Similar to the Tropicana acquisition, this strategic move gave PepsiCo leverage against Coca-Cola, owner of Powerade – second in the sports drink segment.[ citation needed ] PepsiCo's annual net profit rose from $2.7 billion to $6.5 billion. [26] [27]

Nooyi was named on Wall Street Journal 's list of 50 women to watch in 2007 and 2008, [28] [29] 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. [30] 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. [31] [32] In Fortune's Most Powerful Women List of 15 September 2015, Nooyi ranked 2nd. [33]

Nooyi's strategic redirection of PepsiCo has been largely successful. [34] 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. [27] [35] In 2015, Nooyi removed aspartame from Diet Pepsi, furthering the shift towards healthier foods, despite lack of evidence of aspartame's harmful effects. [33]

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. [36]

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. [37] 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. [38]

Connecticut public service

In 2019 Nooyi became the co-director of the newly created Connecticut Economic Resource Center, a public-private partnership with the Connecticut Department of Economic and Community Development. [39] She will help draft the states new economic development strategy. Nooyi is a resident of Connecticut and a college classmate of Connecticut Governor Ned Lamont. [40]

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. [41] By 2014, her total remuneration had grown to $19,087,832, including $5.5 million of equity. [42]

Awards and recognition

In 2018, Nooyi was named one of the "Best CEOs In The World" by the CEOWORLD magazine [43] . Forbes magazine ranked Nooyi on the 2008 through 2017 lists of The World's 100 Most Powerful Women. [9] [44] Fortune magazine has named Nooyi number one on its annual ranking of Most Powerful Women in business for 2006, 2007, 2008, 2009 and 2010. [45] [46] [47] [48] In 2008, Nooyi was named one of America's Best Leaders by U.S. News & World Report. [49] In 2008, she was elected to the Fellowship of the American Academy of Arts and Sciences. [50]

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. [51] [52]

Nooyi has been named 2009 CEO of the Year by Global Supply Chain Leaders Group. [53]

In 2009, Nooyi was considered one of "The TopGun CEOs" by Brendan Wood International, an advisory agency. [54] [55] 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. [56]

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. [57]

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. [58]

YearNameAwarding organizationRef.
2019Honorary Doctorate of Humane Letters Yale University [59]
2018Honorary Degree Cranfield University [60]
2015Honorary Doctorate of Humane Letters State University of New York at Purchase [61]
2013Honorary Degree North Carolina State University [62]
2011Honorary Doctor of Laws Wake Forest University [ citation needed ]
2011Honorary Doctor of Laws University of Warwick [63]
2011Honorary Doctorate of Law Miami University [64]
2010Honorary Doctorate of Humane Letters Pennsylvania State University [65]
2009Honorary Degree Duke University [66]
2009Barnard Medal of Honor Barnard College [67]
2008Honorary Degree New York University [68]
2007 Padma Bhushan President of India [69]
2004Honorary Doctor of Laws Babson College [70]

Memberships and associations

Nooyi is a Successor Fellow of the Yale Corporation. [71] She serves as a member of the Foundation Board of the World Economic Forum, International Rescue Committee, Catalyst [72] 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. [73]

Personal life

Indra married Raj K. Nooyi, president at AmSoft Systems, in 1981. [74] 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. [75] Forbes ranked her at the 3rd spot among 'World's Powerful Moms' list. [76]

Her older sister is businesswoman and Grammy-nominated artist Chandrika Krishnamurthy Tandon. [77]

In India, she used to play cricket and was also in an all-girl rock band, where she played guitar. [78]

See also

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