Indira Nooyi, former CEO, PepsiCo, has now joined the board of directors at Amazon, the multinational technology company focussed on e-commerce and cloud computing among other things. It is reported that she will also be a part of the audit committee of the board. The appointment is said to be a step taken by Amazon to ensure diversity on its board of directors. The Company now has five women in its 11-member board.
In 2018, Amazon adopted a new policy to ensure more diversity after shareholders had complained that the Company lagged behind in terms of diversity. In doing so, it appointed Rosalind Brewer, COO, Starbucks Corp as a director in early February. Brewer became the second black woman to serve on Amazon’s board.
Nooyi had quit as CEO, PepsiCo after spending more than two decades at the beverage Company. Before taking on the position of CEO at PepsiCo, Nooyi was the company’s chief financial officer. One of the rare few women of colour to head a Fortune 500 company, Nooyi had given a push to the Company’s focus on healthier food and snacks during her tenure.
Nooyi will also own over 500 shares of Amazon’s common stock following her appointment as a director. She also signed an indemnification agreement. Other than Nooyi and Brewer, the other women members of the board are: Patricia Stonesifer (CEO of Martha’s Table), Judith McGrath (ex-CEO, MTV Networks), and Jamie Gorelick (Ex US deputy attorney general, and vice chair of Fannie Mae)