President-elect Donald Trump has added some additional titans of Corporate America to his list of key influential economic advisers.
Trump’s transition team announced Wednesday that PepsiCo Chairman and CEO Indra Nooyi will join the President’s Strategic and Policy Forum. Other new appointees to the committee, headed by Blackstone Chairman and CEO Steve Schwarzman, include Tesla CEO Elon Musk and Uber CEO Travis Kalanick.
That Nooyi is joining the council may raise some eyebrows at first blush. It was last month that the well-regarded Nooyi created a rare firestorm on the Internet around PepsiCo for some frank post-election comments.
“First of all, I want to congratulate President-elect Donald Trump, because the election is over,” said Nooyi at the Dealbook conference, adding, “I think we should mourn, for those of us who supported the other side, but we have to come together and life has to go on.” Nooyi supported Democratic nominee Hillary Clinton, but didn’t donate to her campaign.
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Despite Nooyi’s somewhat controversial comments, which led to calls by Trump supporters on Twitter for a boycott of PepsiCo products, there is no question Trump has gained a winner to his star-studded forum that also includes Walmart CEO Doug McMillon and JPMorgan Chase CEO Jamie Dimon.
Since Nooyi became CEO of Action Alerts PLUS holding PepsiCo in October 2006, shares have gained about 69% as she has repositioned the company toward healthier snacks and has cut costs. She also came out ahead in a battle with well-known activist investor Nelson Peltz.
With Nooyi’s vast global knowledge, Trump would be wise to place more than a few direct calls to PepsiCo’s upstate New York headquarters.
Date: December 21, 2016