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PepsiCo CEO Indra Nooyi, one of the most prominent women to lead a Fortune 500 company, will step down on Oct. 3.She will remain as chairwoman of the board of directors until early 2019. Nooyi, 62, will be replaced by Pepsi's global operations chief Ramon Laguarta, 54.Nooyi, who was born in India, is one of a handful of people of color to lead a Fortune 500 company.She helped turn Pepsi into one of the most successful food and beverage companies in the world. Sales grew 80% during her 12-year tenure. She spearheaded Pepsi's transition to a greener, more environmentally aware company.Nooyi has been with Pepsi for 24 years. Before becoming CEO she led the company's expansion through acquisitions, including its 2001 purchase of Quaker Oats Co. She earned million last year, and million over the last three years, according to company filings."Growing up in India, I never imagined I'd have the opportunity to lead such an extraordinary company," she said.Her departure leaves only 24 women leading Fortune 500 companies, after Beth Ford became the CEO of Land O'Lakes just last week. Just more than a year ago there were 32 women leading Fortune 500 companies, meaning that the number of women in top jobs at the nation's largest companies has dropped by more than 20% in just over a year.Since the middle of last year several high-profile female CEOs announced they were stepping down last year, including Marissa Mayer at Yahoo, Irene Rosenfeld at Mondelez and Meg Whitman of Hewlett Packard Enterprise.Related: Why it matters so much every time a woman CEO leavesLaguarta, Nooyi's successor, has served as president of PepsiCo since September 2017, overseeing global operations, corporate strategy, public policy and government affairs. Laguarta is also an immigrant, having been born in Spain. He had previously been CEO of the European and sub-Saharan African unit of Pepsi before being named the company's president.Nooyi praised her successor, calling him "exactly the right person to build on our success."Pepsi's stock lagged the broader market in recent years, and it has trailed rival Coca-Cola. Shares are down 1.5% this year, compared to a 5% rise in the S&P 500 index. Shares of Pepsi were slightly higher in pre-market trading.Americans' growing distaste for sugary sodas has hurt both Coke and Pepsi. In 2014 activist investor Nelson Peltz pushed for Pepsi to spin off its snack business as a separate company. But Nooyi was able to fight off calls to break up the company..-- CNNMoney's Paul R. La Monica and Julia Carpenter contributed to this report.The-CNN-Wire 2608
Our investigators determined smoke alarms were present but inoperable at K St NW house fire. If this blaze took place at night, the results could have been tragic. Fire burns fast, and WORKING smoke alarms give you those precious seconds to safely escape a burning home. pic.twitter.com/mOlMjL7rpj— DC Fire and EMS (@dcfireems) July 21, 2020 349
OTAY MESA, Calif. (KGTV) - Want to save money on your next international flight? Tijuana’s airport can be a cost-cutting alternative to San Diego’s Lindbergh Field via the Cross Border Express (CBX). WHAT TO KNOW The nearly 400-foot-long CBX pedestrian bridge starts in Otay Mesa, east of Brown Field, and connects the United States with Aeropuerto Internacional de Tijuana. U.S. Customs and Border Protection Agents monitor the CBX. Passengers must have a plane ticket and passport to use the CBX. Only travelers may use the bridge; the CBX is not an open border entry. There is a fee to use the CBX, which can be purchased online or on-site. Concessions, including Starbucks, are available at the CBX. In addition to flights throughout Mexico, there are two non-stop flights available to China. SAVING MONEYFlights from Tijuana can be up to 40 percent cheaper than leaving from the U.S., according to CBX officials. Traveling within Mexico cuts down on airline fees and taxes.HOW TO GET THERE Travelers can drive to Otay Mesa and park in one of the CBX secured lots, which CBX officials say are well-lit and secured 24 hours a day. Daily parking rates start at . The CBX is also serviced by rideshare companies and taxi services. Shuttle services are provided for a fee to downtown San Diego, Lindbergh Field, San Ysidro, and Los Angeles area locations. 1370
PHILADELPHIA (AP) — Bill Cosby's lawyers are arguing in a new appeals filing that it was “fundamentally unfair” to let prosecutors use Cosby's damaging deposition from a sex accuser's lawsuit against him at trial. The filing made Tuesday largely focuses on what Cosby believes was a binding promise from a district attorney that he wouldn't be charged in the case. A spokeswoman for the Montgomery County district attorney's office isn't commenting but says prosecutors will file a response within a month. The 83-year-old Cosby is serving a three- to 10-year prison term for three counts of felony sex assault. 619
PALM BEACH COUNTY, Fla. — Paul Manafort, President Donald Trump’s former campaign chairman, was found guilty on eight felony charges on Tuesday: - Five charges of tax fraud 208