New Delhi: Indian-born PepsiCo's CEO Indra Nooyi , is stepping down from the board of directors of the second largest mobile phone manufacturer Motorola.
Nooyi, who is due to become chairperson of 32 billion dollar Pespsico in May, cited the additional responsibilities of her new posts as the reason for stepping down.
She along with another director Laurance Fuller informed the company that they would not stand for re-election but serve on the board until May 7 when Motorola's annual general meeting is scheduled to be held.
Motorola currently has a 13-member board and with the stepping down of the two, its strength is likely to be reduced to 11.
This move by 51-year old Nooyi, a Motorola director since 2002, comes after billionaire investor Carl Icahn decided to take a stake in Motorola with the aim of accelerating shares buyback.
(With inputs from Agencies)
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