"Chip Kaye's Contribution to India Deserving of Our Gratitude and Respect"
WASHINGTON, Jan. 23 /PRNewswire-USNewswire/ -- The Board of Directors of the U.S.-India Business Council (USIBC) today announced that Indra K. Nooyi has been elected to the position of Chairman -- the first woman to ever serve at the helm of this premier business advocacy organization.
The U.S.-India Business Council (USIBC) is comprised of 250 of the largest U.S. companies investing in India, joined by more than two dozen global Indian companies. The mandate of USIBC is to deepen two-way trade and strengthen U.S.-India commercial ties.
"At this important moment in U.S.-India relations -- and at this point in USIBC's 33-year history -- USIBC is truly fortunate to have someone of Indra's talent, insight and vision to leverage the business communities of both countries and to cement the promise of the U.S.-India partnership," said departing-Chairman Charles "Chip" Kaye.
Kaye is Co-President of Warburg Pincus, the New York-headquartered private equity firm that has been a consistent and successful investor in India since economic liberalization.
"We are indebted to Chip Kaye for his dedication to USIBC over the past three years," Indra Nooyi said of the outgoing chairman. "His contribution to USIBC and, more importantly, to India sets a benchmark deserving of our gratitude and respect."
During Chip Kaye's tenure as chairman, the U.S.-India Business Council has experienced unprecedented growth -- with membership increasing four-fold since 2005. Senior executives from every business sector now comprise the Council's prestigious Board of Directors.
As its chairman, Chip Kaye launched bold USIBC initiatives supporting civilian nuclear cooperation, clean energy, improved public health, environmental technology transfer, and more robust trade -- capturing the attention of policy-makers in both Capitals and setting a new benchmark for organizations striving to promote deeper U.S.-India ties.
USIBC President Ron Somers stated, "That someone of Indra's stature and grace has stepped forward to advance the progress of the Council so effectively implemented by Chip Kaye is not only a testament to Chip's leadership, but speaks volumes of the exciting opportunities associated with these two dynamic economies."
Since 1989, PepsiCo has been building businesses that provide direct or indirect employment for more than 60,000 people, investing more than $700 million in India.
PepsiCo has also been an active supporter of Indian agriculture, working in partnership with thousands of farmers in Punjab and other states to refine their farming techniques and significantly improve their yields. The company also supports a range of social and environmental programs in Indian communities.
PepsiCo (NYSE:PEP) is one of the world's largest food and beverage companies, with 2006 annual revenues of more than $35 billion. The company employs approximately 168,000 people worldwide, and its products are sold in approximately 200 countries. Its principal businesses include: Frito-Lay snacks, Pepsi-Cola beverages, Gatorade sports drinks, Tropicana juices and Quaker foods.
PepsiCo's commitment to sustainable growth, defined as Performance with Purpose, is focused on generating healthy financial returns while giving back to communities the company serves. This includes meeting consumer needs for a spectrum of convenient foods and beverages, reducing the company's impact on the environment through water, energy and packaging initiatives, and supporting its employees through a diverse and inclusive culture that recruits and retains world-class talent. PepsiCo is listed on the Dow Jones North America Sustainability Index and Dow Jones World Sustainability Index. For more information, please visit www.pepsico.com.
The U.S.-India Business Council, formed in 1975 at the request of the Government of India and the U.S. Government to advance commercial ties between the world's two largest free-market democracies, is hosted under the aegis of the U.S. Chamber of Commerce. The U.S. Chamber of Commerce is the world's largest business federation representing more than 3 million businesses and organizations of every size, sector, and region. The U.S.-India Business Council celebrates its 33rd Anniversary at the U.S. Chamber of Commerce on June 12, 2008 in Washington, D.C. For more information please visit www.usibc.com.
Source: U.S.-India Business Council