INDRA Nooyi has ruled out joining politics and said her focus will be on her family.
Being the CEO of a company is "all consuming," she said, adding, "when you are the CEO, especially of such a large company, there's only one priority, and that priority is being CEO.
“I think my family was short-changed a lot. The last 24 years, the PepsiCo family always came first.
"Now is the time to shift my priorities to my family."
Nooyi married Raj Nooyi, president of AmSoft Systems in 1980. They have two daughters.
Nooyi's departure from PepsiCo in two months will further diminish the already small group of female Fortune 500 CEOs, and the even more minuscule ranks of women of colour.
"It concerns me in that we can actually count how many there are, as opposed to saying there are hundreds," Nooyi told Fortune magazine in an interview.
According to the Fortune report, before the announcement of Nooyi's exit, PepsiCo's stock was flat year over year and its beverage sales in North America had dropped for four consecutive quarters as consumers look for alternatives to soda.
Nooyi said the timing of her departure was unrelated to the company’s results.
"I look at our performance over a long period of time," she said. "The company is in great shape."
Talks about Nooyi’s transition started approximately one year ago as Laguarta was named PepsiCo's president last July.
"I've been in the company 24 years, and it's been a labour of love," said Nooyi in the interview. "At some point, you've got to sit back and say, what do I want to do with my life."
She added: "I'm not good at politics. I'm just a good worker bee.”
An area that interests Nooyi is getting more women into top positions of management.
"In many ways, I think after stepping down as CEO I can work with other women to figure out how to get them to c-suite positions and as a mentor and supporter," she said.
There is need to focus on removing barriers to women's progress, Nooyi added.
"I see the struggles women go through, and you cannot expect every woman to be a superwoman.
"It just doesn't work because there's one constraint we all have, and that's that there are only 24 hours in a day."
In the run-up to the US presidential elections, Nooyi expressed concern that Donald Trump's actions on trade could harm US multinationals in foreign markets and decried his rhetoric against immigrants and women.
"Our employees, especially our employees who are non-white or who are LGBT, are asking, 'Are we safe?'" said Nooyi, who had backed Hillary Clinton in the race.
"The first thing we have to do is assure everyone in the US that everyone is safe."
UK economy grew by 0.1 per cent in August, after contracting in July
IMF predicts Britain will have the second-fastest G7 growth in 2025
Economists warn growth remains weak ahead of Reeves’ November budget
Bank of England faces balancing act between inflation and sluggish growth
UK’s ECONOMY returned to growth in August, expanding by 0.1 per cent from July, according to official data released on Thursday. The slight rise offers limited relief to chancellor Rachel Reeves as she prepares for her November budget.
The Office for National Statistics (ONS) said gross domestic product for July was revised to show a 0.1 per cent fall from June, compared with a previous estimate that showed no change.
Earlier this week, the International Monetary Fund (IMF) said Britain’s economy is set to record the second-fastest growth among the Group of Seven nations in 2025, after the United States. However, with annual growth projected at 1.3 per cent, it remains insufficient to avoid tax rises in Reeves’ budget.
Fergus Jimenez-England, associate economist at the National Institute of Economic and Social Research, said early signs for September suggested limited growth in the third quarter. "Regaining momentum hinges on restoring business confidence and reducing uncertainty, which the government can support by setting aside a larger fiscal buffer in the upcoming budget," Jimenez-England said.
Sanjay Raja, chief UK economist at Deutsche Bank, said the figures indicated that the services and construction sectors were in a "pre-budget funk" and forecast that growth in the third quarter would be about half the Bank of England’s estimate of 0.4 per cent. "The UK economy has yet to see the full ramifications of the US trade war," Raja said. "Budget uncertainty is hitting its peak too – likely dampening discretionary household and business spending."
A Reuters poll of economists had forecast that GDP would expand by 0.1 per cent in August.
In the three months to August, growth rose slightly to 0.3 per cent from 0.2 per cent in the three months to July, supported by public health service activity while consumer-facing services declined, the ONS said.
The Bank of England, which held interest rates at 4 per cent in September, continues to navigate between persistent inflation and weak growth.
Governor Andrew Bailey said on Tuesday that the labour market was showing signs of softening and inflation pressures were easing after data showed unemployment at its highest since 2021 and a slowdown in private sector wage growth.
Monetary Policy Committee member Alan Taylor also warned on Tuesday that the British economy risked a "bumpy landing", citing the impact of US president Donald Trump’s trade tariffs.
Data published earlier this week showed weak growth in retail sales, partly reflecting concerns about possible tax increases in Reeves’ November 26 budget.
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