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Former PepsiCo Chairperson Indra Nooyi in Race for World Bank Presidency India-born business leader Nooyi, stepped down from the role of chief executive officer of the beverage company PepsiCo in October last year

By Komal Nathani

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Former PepsiCo chairperson Indra Nooyi is reportedly being considered to head the world's most influential organization World Bank Group, reported The New York Times. If elected, Nooyi would be the first woman to lead the World Bank as a president in its history of 74 years.

India-born business leader Nooyi, stepped down from the role of chief executive officer of the beverage company PepsiCo in October last year, after working for 12 years. Nooyi has been an iconic leader in the business fraternity.

This comes after the World Bank's president Jim Yong Kim's announcement of resignation. Kim will be joining private sector to lead his goals of carbon-free economy, which he reportedly could not do under Trump administration. The World Bank Group last year introduced its first woman chief executive officer Kristalina Georgieva, who will be the interim president after Kim's departure by February 1.

Other candidates being considered are, David Malpass, the undersecretary of the Treasury for International Affairs, Ray Washburne, the president of the Overseas Private Investment Corporation, and the US President's daughter Ivanka Trump. However, Ivanka's role in the selection process is still under scrutiny and debates as it might lead to the violation of the World Bank ethics, considering she is the daughter of the US President.

According to the NYT report, Ivanka Trump backs Nooyi as the presidential candidate. The White House senior adviser and first daughter of the US President, Ivanka Trump is reportedly helping the Group in the process to pick the next World Bank president, however, it is still yet to be seen whether Nooyi would accept her nomination for the top position.

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Komal Nathani

Former Correspondent, Entrepreneur Asia Pacific

A firm believer of hard work and patience. Love to cover stories that hold a potential to change the momentum of business world. Currently, a part of all-women web team of Entrepreneur’s Asia Pacific edition to jig the wheel of business journalism!

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