Indra Nooyi rules out joining politics, to focus on family

Agencies
August 7, 2018

Indra Nooyi has ruled out joining politics and will now focus on her family after her long-innings at the world's second-largest food and beverage giant PepsiCo.

PepsiCo yesterday announced that its Board of Directors have unanimously elected Ramon Laguarta, 54, to succeed Indian-origin Nooyi as Chief Executive Officer. Ms Nooyi, 62, will step down on October 3 after 24 years with the company, the last 12 as CEO.

She will remain Chairman until early 2019 to ensure a smooth and seamless transition.

Indra Nooyi's departure in two months will further diminish the already small group of female Fortune 500 CEOs, she is one of just 25, 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," she told Fortune in an interview. 

Ms Nooyi said in the interview that she did not yet know what she wanted to do next, but added that she would not be running for office. "I'm not good at politics," the Chennai-born said. "I'm just a good worker bee", Nooyi, who has not been afraid to get political, said.

After the 2016 US presidential elections, Indra Nooyi had said Democrat Hillary Clinton's loss to Republican Donald Trump left her daughters and PepsiCo's employees devastated and there were serious concerns among the company's workers, especially the non-white employees, about their safety in an America with Trump as its president.

Ms Nooyi said that after her departure from PepsiCo, her focus will be on her family. Being the CEO of a company is "all consuming," she said. "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."

She added, "Now is the the time to shift my priorities to my family." Ms Nooyi got married in 1980 to Raj Nooyi, President of AmSoft Systems. They have two daughters.

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. Ms Nooyi said that the timing of her departure was unrelated. "I look at our performance over a long period of time," she said.

"The company is in great shape." Ms Nooyi added that talks about her 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," she said in the interview. "At some point, you've got to sit back and say, what do I want to do with my life."

An area that interests Ms Nooyi is getting more women into the top echelons 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, she said.

"I see the struggles women go through, and you ca not expect every woman to be a superwoman," she said. "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."

Ms Nooyi, one of the world's most powerful and influential business leaders, said leading PepsiCo has been the "honour" of her lifetime, and she is "incredibly proud" of all the company has done over the past 12 years to advance the interests of shareholders and stakeholders.

Among the few executives to break the glass ceiling in corporate America, Ms Nooyi had also created history by being among the few India-born females to lead a global giant when she took over the reins at PepsiCo.

Ms Nooyi described the development as a "day of mixed emotions for me". She said PepsiCo has been "my life for nearly a quarter century and part of my heart will always remain here."

"But I am proud of all we've done to position PepsiCo for success, confident that Ramon and his senior leadership team will continue prudently balancing short-term and long-term priorities, and excited for all the great things that are in store for this company. PepsiCo's best days are still ahead of it," she said yesterday in the company statement. 

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coastaldigest.com web desk
June 16,2020

New Delhi, Jun 16: Despite Prime Minister Narendra Modi led government’s attempt to downplay the border dispute with China, matters have heated up unprecedentedly along the Line of Actual Control (LAC)- the effective Sino-India border in Eastern Ladakh. 

The country has lost three precious lives – an army officer and two soldiers. The last time blood was spilled on the LAC, before the latest episode, was 45 years ago when the Chinese ambushed an Assam Rifles patrol in Tulung La.

India had lost four soldiers on October 20, 1975 in Tulung La, the last time bullets were fired on the India-China border though both the countries witnessed bitter stand-offs later at Sumdorong Chu valley in 1987, Depsang in 2013, Chumar in 2014 and Doklam in 2017.

Between 1962 and 1975, the biggest clash between India and China took place in Nathu La pass in 1967 when reports suggest that around 80 Indian soldiers were killed and many more Chinese personnel.

While three soldiers, including a Commanding Officer, were killed in the latest episode in Galwan Valley, the government describes it as a "violent clash" and does not mention opening fire.

New Delhi described the locality where the 1975 incident took place as "well within" its territory only to be rebuffed by Beijing as "sheer reversal of black and white and confusion of right and wrong".

The Ministry of External Affairs had then said that the Chinese had crossed the LAC and ambushed the soldiers while Beijing claimed the Indians entered their territory and did not return despite warnings.

The Indian government maintained that the ambush on the Assam Rifles' patrol in 1975 took place "500 metres south of Tulung" on the border between India and Tibet and "therefore in Indian territory". It said Chinese soldiers "penetrating" Indian territory implied a "change in China's position" on the border question but the Chinese denied this and blamed India for the incident.

The US diplomatic cables quoted an Indian military intelligence officer saying that the Chinese had erected stone walls on the Indian side of Tulung La and from these positions fired several hundred rounds at the Indian patrol.

"Four of the Indians had gone into a leading position while two (the ones who escaped) remained behind. The senior military intelligence officer emphasised that the soldiers on the Indian patrol were from the area and had patrolled that same region many times before," the cable said.

One of the US cables showed that former US Secretary of State and National Security Adviser Henry Kissinger sought details of the October 1975 clash "without approaching the host governments on actual location of October 20 incident". He also wanted to know what ground rules were followed regarding the proximity of LAC by border patrols.

A cable sent from the US mission in India on November 4, 1975 appeared to have doubts about the Chinese account saying it was "highly defensive".

"Given the unsettled situation on the sub-continent, particularly in Bangladesh, both Chinese and Indian authorities have authorised stepped up patrols along the disputed border. The clash may well have ensued when two such patrols unexpectedly encountered each other," it said.

Another cable from China on the same day quoted another October 1974 cable, which spoke about Chinese officials being concerned for long that "some hotheaded person on the PRC (People's Republic of China) might provoke an incident that could lead to renewed Sino-Indian hostilities. It went on to say that this clash suggested that "such concerns and apprehensions are not unwarranted".

According to the United States diplomatic cables, Chinese Foreign Ministry on November 3, 1975 disputed the statement of the MEA spokesperson, who said the incident took place inside Indian territory.

The Chinese had said "sheer reversal of black and white and confusion of right and wrong". In its version of the 1975 incident, they said Indian troops crossed the LAC at 1:30 PM at Tulung Pass on the Eastern Sector and "intruded" into their territory when personnel at the Civilian Checkpost at Chuna in Tibet warned them to withdraw.

Ignoring this, they claimed, Indian soldiers made "continual provocation and even opened fire at the Chinese civilian checkpost personnel, posing a grave threat to the life of the latter. The Chinese civilian checkpost personnel were obliged to fire back in self defence."

The Chinese Foreign Ministry spokesperson had also said they told the Indian side that they could collect the bodies "anytime" and on October 28, collected the bodies, weapons and ammunition and "signed a receipt".

The US cables from the then USSR suggested that the official media carried reports from Delhi on the October 1975 incident and they cited only Indian accounts of the incident "ridiculing alleged Chinese claims that the Indians crossed the line and opened fire first".

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News Network
February 3,2020

Bengaluru, Feb 3: India's manufacturing activity expanded at its quickest pace in nearly eight years in January with robust growth in new orders and output, a private survey showed on Monday, suggesting the economy may be getting back on firmer footing.

In response to the jump in sales, factories hired new workers at the fastest rate in more than seven years.

If sustained, the improvement in business conditions could point to a gradual economic recovery in coming months, as forecast by analysts in a Reuters poll last month, after growth slowed to a more than six-year low in the July-September quarter.

The Nikkei Manufacturing Purchasing Managers' Index , compiled by IHS Markit, jumped to 55.3 last month from 52.7 in December. It was the highest reading since February 2012 and above the 50-mark separating growth from contraction for the 30th straight month.

"The PMI results show that a notable rebound in demand boosted growth of sales, input buying, production and employment as firms focused on rebuilding their inventories and expanding their capacities in anticipation of further increases in new business," Pollyanna De Lima, principal economist at IHS Markit, said in a news release.

A new orders sub-index that tracks overall demand hit its highest level since December 2014 and output grew at its fastest pace in over seven and a half years, pushing manufacturers to hire at the strongest rate since August 2012.

Meanwhile, both input costs and output prices rose at a slower pace, indicating overall inflation may have eased after hitting a more than five year high of 7.35% in December, although probably not below the Reserve Bank of India's medium-term target of 4%.

That might keep the central bank, which cut its key interest rate by a cumulative 135 basis points last year, on the sidelines over the coming months.

"To complete the good news, there was also an uptick in business confidence as survey participants expect buoyant demand, new client wins, advertising and product diversification to boost output in the year ahead," added De Lima.

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News Network
January 15,2020

New Delhi, Jan 15: The Delhi government Wednesday told the high court that execution of the death row convicts in the Nirbhaya gangrape and murder case will not take place on January 22 as a mercy plea has been filed by one of them.

The four convicts -- Vinay Sharma (26), Mukesh Kumar (32), Akshay Kumar Singh (31) and Pawan Gupta (25) -- are to be hanged on January 22 at 7 am in Tihar jail. A Delhi court had issued their death warrants on January 7.

Justices Manmohan and Sangita Dhingra Sehgal were told by the Delhi government and the Centre that the petition filed by convict Mukesh, challenging his death warrant, was premature.

The Delhi government and the prison authorities informed the court that under the rules, it will have to wait for the mercy plea to be decided before executing the death warrant.

They also said that none of the four convicts can be executed on January 22 unless the present mercy plea is decided.

The Supreme Court had on Tuesday dismissed the curative pleas of Mukesh and Vinay.

The mercy plea hearing began Wednesday morning and will continue in the afternoon.

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