Indra Nooyi, former PepsiCo CEO, could head World Bank
What's the story
Indra K. Nooyi, who led PepsiCo for 12 years before leaving the company in August last year, is being considered for the top post of World Bank, multiple reports claimed. White House adviser Ivanka Trump, the eldest daughter of United States' President Donald Trump, has floated Nooyi's name to succeed Jim Yong Kim. Kim is leaving his position to join a private firm.
Information
The current world bank chief is leaving before term's end
Notably, Kim is leaving his position 3 years before the term ends. He was given the top post in 2012 by Barack Obama's administration and in 2016 he was re-appointed for another five-year term. Hillary Clinton had suggested Kim's name back then.
Nomination
Ivanka was all praises for Nooyi, called her an inspiration
When Nooyi, an Indian American business executive, left PepsiCo, Ivanka had described her as an inspiration. She wrote on Twitter, "I am deeply grateful for your friendship. Thank you for your passionate engagement on issues that benefit the people of this country, and beyond." It is still unclear whether Nooyi, who was courted as administration ally by Ivanka, will accept the nomination.
Twitter Post
Ivanka called Nooyi 'great'
The great @IndraNooyi is stepping down as PepsiCo CEO, after 12 yrs.
— Ivanka Trump (@IvankaTrump) August 7, 2018
Indra, you are a mentor + inspiration to so many, myself included. I am deeply grateful for your friendship. Thank you for your passionate engagement on issues that benefit the people of this country, and beyond
Relationships
Nooyi was part of Trump's council of business leaders
Nooyi's proximity to White House under Trump became well-known after she attended meetings at his Bedminster, NJ, golf club. She was also a part of now-disbanded council of business leaders. However, Nooyi supported Hillary Clinton in 2016 in the Presidential run. Speaking about her loss, Nooyi once said her entire office was in mourning after the former Secretary of State lost to Trump.
Quote
PepsiCo rushed to damage control after Nooyi's statements needled controversy
Notably, her 'mourning' comments sparked a row after which a spokesperson from PepsiCo said, "She was referring to the reaction of a group of employees. She never intended to imply that all employees feel the same way."
Possibility
Can Nooyi become World Bank's Chief? Too early to conclude
Thinking Nooyi could become the chief of the world's largest bank is a long shot. Notably, the initial front-runners withdraw their candidature or fall off the radar as the selection process advances. While the recommendations are welcome, Trump takes the final call, relying only on his gut feeling. Kim's tenure will end on February 1 and the decision needs to be taken soon.
Other names
Taking a look at other candidates
David Malpass, the undersecretary of the Treasury for International Affairs, is also in the race. He is seen as a Trump loyalist. Another name being floated around is that of Ray Washburne, the president of the Overseas Private Investment Corporation. He served on Trump's 2016 finance team. Treasury secretary Steven Mnuchin, acting chief of staff Mick Mulvaney, and Ivanka oversee the selection process.