Trump considering former Pepsi chief to head World Bank: Report
The Trump administration is considering tapping former Pepsi CEO Indra Nooyi to head the World Bank, The New York Times reported on Tuesday.
Several people familiar with the matter told the Times that Ivanka Trump is pursuing Nooyi, who stepped down as Pepsi CEO in August. The process, however, is said to be fluid and in its early stages.
Nooyi, who grew up in India, was with Pepsi for 24 years, including 12 as CEO. She is known for helping the company shift toward a range of healthier product offerings. Under her leadership, PepsiCo’s revenues increased to $63.5 billion in 2017 from $35 billion in 2006, with sales growing more than 80 percent during her 12-year tenure, according to the company.
She was also a part of Trump’s since-disbanded business council.
The White House said this week that Ivanka would help oversee the process to select a successor for Jim Yong Kim, who will step down as president of the World Bank next month. The U.S. traditionally picks a nominee for the post, who then needs to be approved by the bank’s board. Kim is stepping down three years before his term expires and is expected to join a private infrastructure firm.
Other candidates reportedly being considered for the job include Undersecretary of the Treasury for International Affairs David Malpass and president of the Overseas Private Investment Corporation Ray Washburne.
The World Bank focuses on reducing global poverty by providing low-interest loans, credits and grants to developing countries.