Power Point: Pepsi’s innovation challenge
“The age of thrift is here. You have to do innovation at both ends–premium innovation and innovation for the value consumer.”
– PepsiCo (PEP) chairman and CEO Indra Nooyi in a recent Q&A with Pattie Sellers. No. 1 on Fortune’s 2009 Most Powerful Women in Business list (for the fourth year in a row) Nooyi today delivered another quarter of solid earnings. PepsiCo beat analyst expectations with net income of $1.72 billion, up 9% over last year.
Nooyi is relentless in reinventing a company that many others might have thought didn’t need reinventing. Investing in healthier products, reorganizing her core team, spending billions to acquire Pepsi’s two largest bottlers…the list of changes go on and on. “Any capital we invested in the company has to be rethought,” Nooyi said in the interview, noting, “The bottom line is: Through this downturn, you have to increase your investment, not cut back.” She added, “Now is a wonderful time to look for disruptive models.”
Click here for a series of video clips from Pattie’s interview with Nooyi. –Jessica Shambora
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Patricia Sellers has written some of Fortune's most talked-about cover stories, including "Can Meg Whitman Save California?", Melinda Gates ("The $100 Billion Woman"), "MySpace Cowboys," Martha Stewart ("I cannot be destroyed"), Ted Turner ("Gone with the Wind") and Oprah Winfrey ("Oprah Inc."). And she has broken ground with insightful pieces on career management issues such as ego ("Get Over Yourself!"), and "Charisma: Do You Need It? Can You Get It?" Pattie chairs the annual Fortune Most Powerful Women Summit, the preeminent gathering of women leaders in business, philanthropy, government, academia, and the arts. And she has helped oversee Fortune's "Most Powerful Women in Business" cover package since its launch in 1998. She started at Fortune in 1984, covering the big consumer brand companies.
