PepsiCo’s Nooyi elected chairman of USIBC

Mumbai: The Board of Directors of the U.S.-India Business Council (USIBC) announced that Indra K. Nooyi has been elected to the position of Chairman at this premier business advocacy organization. She will be the first woman ever to serve at the helm here.
 
The U.S.-India Business Council (USIBC) comprises 250 of the largest US companies investing in India, joined by more than two dozen global Indian companies. The mandate of USIBC is to deepen two-way trade and strengthen U.S.-India commercial ties.
 
“At this important moment in U.S.-India relations—and at this point in USIBC’s 33-year history—USIBC is truly fortunate to have someone of Indra’s talent, insight and vision to leverage the business communities of both countries and to cement the promise of the U.S.-India partnership,” said departing chairman Charles ‘Chip’ Kaye.
 
Kaye is co-president of Warburg Pincus, the New York-headquartered private equity firm that has been a consistent and successful investor in India since economic liberalization. “We are indebted to Chip Kaye for his dedication to USIBC over the past three years,” Indra Nooyi said of the outgoing chairman. “His contribution to USIBC and, more importantly, to India sets a benchmark deserving of our gratitude and respect.”
 
USIBC president Ron Somers stated, “That someone of Indra’s stature and grace has stepped forward to advance the progress of the Council so effectively implemented by Chip Kaye is not only a testament to Chip’s leadership, but speaks volumes of the exciting opportunities associated with these two dynamic economies.”