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Amazon gets its first Indian board member

Indra Nooyi

Former PepsiCo CEO – Indra Nooyi has been appointed as a director on the board of tech giant Amazon.com, as per an announcement made by Amazon on Monday. Nooyi is the second woman to be inducted into the e-commerce giant’s board this month after the company named Starbucks Corporation’s Rosalind Brewer as a director earlier this month to serve on the board.

Amazon in September 2018 became the second company after Apple Incorporated to hit the 1 trillion $ market cap milestone. However, since then its value has depleted and it has not managed to hang on to that mark.

Amazon’s 11 member board of directors now has 5 women including Indra Nooyi, Rosalind Brewer, Jamie Gorelick, Judith McGrath and Patricia Stonesifer. The company last year announced, as part of its new policy to increase diversity on its board, that more women and others from diverse backgrounds would be part of its board nominees.

Indian born Indra Nooyi stepped down as the CEO of PepsiCo in October of 2018 and as the chairman of the world’s second largest beverage and snack maker by revenue, earlier this year. She has had an illustrious and decorated career in India as well as corporate America, working for companies such as Boston Consulting Group, Johnson and Johnson, Motorola and of course a 12 year stint with PepsiCo. This is the very same Indra Nooyi whom President Donald Trump’s daughter Ivanka Trump considers “a mentor and an inspiration”.

Indra Nooyi will be part of the Audit Committee of the Amazon board and has been granted 549 shares as part of the stock option program which will vest in three equal annual instalments. The company’s shares closed at 1,633 $ per share on Monday valuing her newly minted 549 shares at little under 6.50 crore ₹.

 

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