Just in: Indra Nooyi to step down as Pepsico CEO. The company's president Ramon Laguarta will succeed her. Nooyi has been leading the food and beverage giant for 12 years and has been with the company for 24 years.

Laguarta was elected by the board of directors to succeed her. Nooyi will remain as chairman until early 2019 even though her tenure ends in October.