India-born ex PepsiCo chief Indra Nooyi may become next World Bank president

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First Published 16, Jan 2019, 1:43 PM IST
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India-born ex PepsiCo chief Indra Nooyi may become next World Bank president
Highlights

World Bank's current president Jim Yong Kim had earlier this month announced that he would step down from his post in February to join a private infrastructure investment firm. His unexpected departure came nearly three years before the end of his term.

New York: Ivanka Trump has floated the name of the former India-born CEO of global beverage giant PepsiCo Indra Nooyi as the new World Bank president. The 63-year-old business woman resigned as the PepsiCo's chief last August after leading the company for 12 years.

Ivanka, who is playing a role in the selection of a nominee, tweeted that she views Nooyi as a "mentor + inspiration". 

Nooyi was born to a Tamil-speaking family in Chennai and joined PepsiCo in 1994. She was replaced by Ramon Laguarta in October 2018. 

It is unclear whether Nooyi would accept the nomination for the next World Bank chief if chosen by the Trump administration.

World Bank's current president Jim Yong Kim had earlier this month announced that he would step down from his post in February to join a private infrastructure investment firm. His unexpected departure came nearly three years before the end of his term.

The NYT report said that the process of choosing Kim's successor is being overseen by Treasury Secretary Steven Mnuchin, acting chief of staff Mick Mulvaney and Ivanka, whose role in the process was announced by the White House Monday.

Ivanka's "role in the process drew some criticism from ethics watchdogs Monday, which said it could pose a conflict of interest for the president's daughter to be involved in international economic matters when she has not completely divested from her assets," the report said.

The group was expected to begin the interview process Tuesday, in order to present President Trump with recommendations for a nominee.

Nooyi joined Trump's business council, which was disbanded after many chief executives quit following the president's comments blaming "many sides" for white supremacist violence in Charlottesville, in August 2017.

The report, however, added that negative comments made by Nooyi after the 2016 election, during which she did not publicly endorse any candidate, are seen as a potential roadblock to her nomination.

Following Trump's win, she said at the NYT's DealBook conference in 2016 that "Our employees are all crying. And the question that they're asking, especially those who are not white: 'Are we safe?' Women are asking: 'Are we safe?' LGBT people are asking: 'Are we safe?' I never thought I'd have had to answer those questions".

A spokesman for PepsiCo had told Fortune magazine that "Mrs. Nooyi misspoke. She was referring to the reaction of a group of employees she spoke to who were apprehensive about the outcome of the election. She never intended to imply that all employees feel the same way".

Other candidates being considered for the position of World Bank head are under secretary of the Treasury for International Affairs David Malpass and president of the Overseas Private Investment Corporation Ray Washburne.

The US president cannot install the World Bank leader, who must be approved by the bank's board, but has traditionally placed his nominee in the job.

Trump has already faced harsh criticism for appointing his daughter as a senior White House advisor.

Ivanka is a successful businesswoman, fashion designer, author and reality television personality. She has her own line of fashion items, including clothes, handbags, shoes, accessories which are available in all major US departmental stores.

With inputs from PTI 
 

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