The International Cricket Council (ICC) on February 9 announced that PepsiCo Chairman and CEO Indra Nooyi has been appointed to the ICC Board as the organisation’s first independent female director. Nooyi will join the board in June 2018 to align with the term of the ICC Independent Chairman, following the unanimous confirmation of her appointment at Friday’s meeting.
The introduction of an Independent Director, who must be female, was approved by the ICC Full Council in June 2017 as part of wide ranging constitutional changes aimed at improving the global governance of the sport.
Nooyi is a global business leader, consistently ranked by Fortune magazine among the world’s most powerful women. As Chairman and CEO of PepsiCo, Nooyi is responsible for a global food and beverage portfolio that includes 22 brands generating more than US$1 billion each in annual retail sales, including Quaker, Tropicana, Gatorade, Frito-Lay and Pepsi-Cola.
Nooyi is also the chief architect of Performance with Purpose, PepsiCo’s vision to deliver top?tier financial performance over the long term by integrating sustainability into the company’s business strategy. Under her leadership, since 2006 PepsiCo has focused on offering more nutritious foods and beverages, minimising their impact on the environment, and creating opportunities for their employees and people across the markets they serve.
ICC Chairman Shashank Manohar said: “We are delighted to welcome Indra to the ICC. Adding another independent director – particularly a female – is such an important step forward in improving our governance. To have someone of Indra’s calibre is fantastic news for the global game – she is frequently recognized as one of the most influential people in business today, running one of the world’s biggest corporations.
“We undertook a global search looking for the right candidate who would complement the existing skills and experience already on our Board. A cricket enthusiast with experience in the commercial sector and independent of the ICC, any Member or state or associated organisation were the primary criteria and in Indra we have found an exceptional new colleague and we look forward to working with her in the future.”
Nooyi said: “I love the game of cricket. I played it as a teenager and in college, and to this day, I cherish the lessons the game taught me about teamwork, integrity, respect, and healthy competition. I am thrilled to join the ICC as the first person to be appointed to this role. And I look forward to working with my colleagues on the board, ICC’s incredible partners, and cricketers around the world to grow our sport responsibly and give our fans a new reason to follow every ball and shot.”
The Independent Director will be appointed for a two-year term although she may be re-appointed for two further terms with a maximum six-year consecutive period of service.
In accordance with international standards of good governance, the Independent Ethics Officer for the ICC and PepsiCo’s General Counsel has reviewed and both formally approved the appointment, providing a clear framework for appropriately managing any potential or perceived conflicts of interest that might arise in the future.