When Indra Nooyi stepped down as the CEO of PepsiCo, it was another milestone in her life and a regular event for the corporation. In today’s time, a CEO’s movement in usually fraught with excitement, but it was totally missing in Indra’s case. The move did not precede any controversy, leadership conflict, ethical or moral jurisprudence or performance-related issues. After twelve years at the helm of one of the most successful beverage companies, she stepped down with grace with no controversy touching her professional or personal life.
The reason I mention Indra Nooyi is because in recent times, a CEO’s job and movement has become an uncertain hot potato. Senior executives including business leaders have been ‘sacked’ or ‘retired’ by the board due to conflict issues ranging from conduct to performance. Indra with more than a decade in a CEO’s (& Chairman’s) role in today’s time is not only rare, but also admirable.
In the past decade, many professionals from Asia who have achieved global success by reaching the top echelons of Western corporations in the US, have fallen from grace rather abruptly due to moral turpitude or performance oversight. An example that comes to my mind is the case of one of the finest Indian minds who went on to lead the world’s best management consulting firms serving a jail term for insider trading charges. Similarly, recent examples of women leaders in India’s banking sector have had to quit due to conduct issues. These are examples of how conduct is becoming a key imperative in today’s corporate world.
So how does Indra stand apart in this scenario? In my opinion, three things clearly stand out in her conduct and this is a learning for senior leaders across the world, especially, Asian executives, who are exposed to working in MNC set ups in US and European corporations. An Indian American woman having become the first lady CEO to head a snazzy sugar syrup marketing company and then taking it ahead to success as a health food and drinks company is a case study in itself.
First, her ability to comprehend macro changes and let her company adapt to such consumer demand. Pepsico today has moved to being a ‘health’ company from a pure cola company. Be it opportunistic acquisitions like Tropicana & Quaker Oats to creating a fresh product portfolio of health foods and drinks, Indra was able to reposition and reenergize her company with relevance to today’s changing consumer demand. In today’s world, I see many business leaders unable to drive a strategic shift in their companies often leading to a downfall. Recent events in large corporations like GE, Tata, and many more showcase such conflicts. Leave aside business, Indra was able to deftly counter public opinion that has been building for ‘unhealthy’ drink companies around the world and create a positive perception for Pepsico.
Second, being a lady who has broken the so-called glass ceiling, she never came across as an activist. Her views as a woman, be it a daughter, wife, mother are well known. Yet, she has been realistic and non-confrontational. The ability to accept that hard work throughout your career is a key to success, irrespective of gender, has been reinforced by her repeatedly. Clearly mentioning that she worked 12-18 hours a day all her life, at a time when making statements on ‘work life balance’ has become fashionable, shows her ability to speak her mind and stand by her success mantra truthfully.
Third, Indra’s career in such a high-profile job was ‘uneventful’ – a rarest of the rare feat in today’s corporate world of ‘public profiling’. Being the highest paid woman CEO in the world, I have rarely read of the exotic places she holidayed in with her family, or which Michelin star restaurant she dined at whenever she was in New York or which Ivy League school her two children went to or which painting or diamond jewelry her husband gifted her on her anniversary. Leave aside, reports of any office clashes with the board or colleagues or exciting dead of the night social media commentary. Today, leaders are spending significant time on promoting themselves in the name of ‘brand building’. I often feel such showcase is unnecessary and takes away your focus from work. Indra is a great example where an executive has risen through the ranks and established herself as a global leader through her work. You will find a mention of her growing up years in a middle-class family in Chennai and old wisdom that her mother has dished out to her rooting her to the ground.
Indra’s recent comment of ‘leaving behind the crown’ in the car and ‘letting your husband bring the crown home’ is a bold statement in times of female activism. Her message that family ties and values are the bedrock to her success is the truth for many of us. The fact that she missed her family and often felt her daughters were neglected in their growing up years is a genuine feeling that most working mothers go through. The first female CEO of Pepsico who boosted revenues by 80% during her tenure yet was mindful of her shortcomings and duties both as a professional and family person is a lesson for each one of us as we work towards professional success.
The ability to stay grounded as an individual yet firm and determined as a professional is something that all of us in the corporate world need to learn from Indra. Her ability to marry the good of the East to the best of the West, instead of finding faults, is a great example of cultural and professional collaboration. I am sure she will be equally busy in the future doing things that she missed during her work life.
We need more Indras to ensure that the corporate world creates an ecosystem that is more predictable, peaceful yet drives a performance-driven culture.
