Pepsi hires new CEO
August 14, 2006
NEW YORK — PepsiCo Inc. Monday named Chief Financial Officer Indra K. Nooyi, 50, to replace Steven Reinemund as chief executive officer of the world's second-largest soft-drink maker.
PepsiCo Inc. is the largest U.S. company by stock market value to be run by a woman.
The changeover will take place Oct. 1. Reinemund said in a statement he is retiring to spend more time with his family, but the announcement was not expected on Wall Street.
