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PepsiCo's CEO named board chairman

PepsiCo Inc. named CEO Ramon Laguarta board chair, effective Feb. 1.

Laguarta will succeed Indra Nooyi who stepped down as the company's CEO in October 2018 but remained board chair until her retirement Feb. 1, according to a Jan. 10 news release.

Nooyi has been PepsiCo's chairman since 2007.