By Alan Murray and David Meyer
August 7, 2018

Good morning.

When Indra Nooyi steps down in October as CEO of PepsiCo, she will leave just 24 women running Fortune 500 companies. “It concerns me that we can actually count how many there are, as opposed to saying there are hundreds,” she told Fortune’s Beth Kowitt in an interview yesterday. Nooyi said she doesn’t yet know what her next act will be, but one area she’s interested in is working “with other women to figure out how to get them to c-suite positions and as a mentor and supporter.” Nooyi talked about the struggles facing women aspiring to top executive jobs in an interview with Fortune last year.

During her time as CEO, Nooyi made a major shift in Pepsi’s product portfolio toward healthier foods—a move that was criticized by some investors early on, but turned out to foreshadow consumer trends. Asked by The Wall Street Journal to name her biggest achievement, she said: “We threaded the needle between performance and purpose and delivered terrific earnings-per-share performance growth.”

During her tenure, Nooyi delivered 8% annualized growth in total returns to shareholders, versus the 8.9% average for the S&P.

Nooyi will be replaced by Ramon Laguarta. You can learn more about him here.

More news below.

Alan Murray
@alansmurray
alan.murray@fortune.com

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