Indra Nooyi Rediscovers the Joy of Pepsi

Since becoming chief executive officer of PepsiCo five years ago, Indra Nooyi has accelerated the snacks-and-cola company’s move into healthier fare: yogurt drinks, hummus, oatmeal bars, etc. While the strategy makes sense, given America’s obesity epidemic, the change in focus has taken a toll on the company’s sugary namesake, Pepsi-Cola.

In the U.S. soda market, the company lost share to arch-rival Coca-Cola from 2008 through 2010, according to Beverage Digest, an industry newsletter. Two years ago, Diet Coke, a regular advertiser on high-profile TV programs including the Academy Awards, overtook full-calorie Pepsi-Cola to become the second-best-selling soft drink in the U.S., behind Coca-Cola. PepsiCo’s stock has risen about 2 percent during Nooyi’s tenure, while Coke has gained more than 50 percent over the same period.