Former PepsiCo CEO Indra Nooyi Offers Her Best Business Advice on MasterClass

Good morning, Broadsheet readers! Fox News CEO Suzanne Scott is at the center of the company’s $1.6 billion disinformation lawsuit, and a new study uncovers shocking racial disparities in fertility treatment-related infant deaths, ex- PepsiCo CEO Indra Nooyi provides guidance for a new generation of leaders.

– Best in business. Former PepsiCo CEO Indra Nooyi became a business icon during her roughly 12 years at the head of the global behemoth. As one of very few women of color to run a Fortune 500 company, Nooyi has been offering her advice for years to others aiming to elevate corporate America.

She has shared this wisdom in several books and launched a series of courses on the MasterClass platform last month. In her new course, Nooyi shares some of her most basic tips—like identifying your core competencies—as well as more advanced guidance, like identifying the megatrends that will shape an industry for a decade or more.

Earlier this month, I spoke with Nooyi via Zoom about her new course. The former PepsiCo chairman and CEO praised me for drinking a Diet Pepsi during our conversation — “very thoughtful,” she said. (I’d normally go for Diet Coke, I’ll admit, but the stores are closed.) Nooyi, who held roles such as SVP of strategic planning and CFO at PepsiCo, was eager to work with the broader A group of professionals who share her advice.

Indra Nooyi, former CEO of PepsiCo.

Courtesy of Masterclass

Below are some excerpts from our conversation about Nooyi’s new MasterClass series.

How to Find Your Unique Value

You have to make a unique proposition about the company. Who are you and what do you offer they can’t lose? At first, I didn’t know what my proposal was. But people tell me that what I can do really well is simplify the most complex topics. Difficult projects would fall on my lap and people would say, if I can’t fix it, the project has to be rethought.

It’s hard for someone to sit down and really develop their skills. However, if you have a good manager, they can help you improve your skills and increase your skills. The performance review process should help clarify your core skills.

How to get the most out of meetings

Be very clear about the goals of the meeting. What are you doing in there? Is there the right person in the room? Only those who need to be there, not all? If you see people holding back, pull them out – they have to have a point of view. Ask those who have not yet spoken if their points have been addressed. Maybe someone will say something unexpected.

How to make a great first impression

First impressions are important because you’re going well. You have no headwind. But if you make a bad impression, you will run into headwinds. If you’re not impressed, who knows where it’s going?

Walk in, looking confident — but not overconfident or arrogant — make eye contact, smile, shake hands firmly, and sit down. Attend a prepared meeting. Reading material.

How to get a buy

You have to have faith in what you are pushing. Have faith and confidence in the product you want to sell. You have to convince – never just work in a crowd. Building identity is difficult, and the higher you go the harder it is because change has to happen on such a deep foundation.

Nooyi acknowledges that much of her advice comes from decades in corporate America, predating the rise of remote work and other changes that have profoundly changed the American workplace. Still, she hopes her experience can guide others.

“Given my background and where I’m from — as an immigrant, a woman of color, across oceans — leading this iconic company is a daunting task,” she said. “I want to see the most unusual, the least unusual. The possible people get to the top. Let us give them the tools to move forward.”

Emma Hinchliffe

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also in the headlines

– in the spotlight. Fox News Media CEO Suzanne Scott has led the company since 2018, helping cement its position as the most-watched cable news network in the U.S. She is now at the center of a $1.6 billion lawsuit accusing Fox News of spreading misinformation about the 2020 election. New York Times

– Opinion leader. Coinbase launched a think tank in May, led by former SEC attorney Hermine Wong. Noting that much of the SEC’s regulatory development and public interaction relies on academic research, Wong said the Coinbase Institute plans to create a rigorous source of crypto research. protocol

– Shocking research. A new study analyzed more than 7 million U.S. newborns between 2016 and 2017 and found that babies born to black women who used in vitro fertilization or other fertility treatments had higher mortality rates than white women who used the same treatments. These gaps even existed when adjusted for risk factors such as age and health status. Although the researchers were unable to identify an obvious cause, they stressed that the findings should not deter women from using such treatments. wealth

– Debate topics. Tuesday’s debate in the Florida Senate honed in on the state’s abortion access. Democratic candidate Val Demings blamed the incumbent Republican senator. Marco Rubio supports abortion restrictions, except in cases of rape, incest or medical emergencies. Rubio countered that while he supports strict abortion laws, they are politically unpopular and unlikely to pass. New York Times

Movers and Vibrators: Stephanie Ferris will be Next CEO or Fidelity National Information Service. Real Estate Company Firststead has hired Sally Hebner as Chief Financial Officer. Adria Burger Join the Native Roots Cannabis Company. as Vice President of Human Resources.Digital sports platform Fanatics has hired Andrea Ellis As CFO of Fanatics Betting and Gaming, the company’s online sports betting and gaming division.

in case you missed it

– Withdrawal approval. The FDA recommended Wednesday to withdraw the preterm birth drug Makena from the market, citing research showing the drug fails to prevent premature births. Makena has been on the market for more than 11 years after fast-track approval. New York Times

– Born to be inclusive. Model Yumi Nu is launching Blueki, a size-inclusive knitwear collection inspired by Nu’s difficulty finding ethical clothing in a wide range of sizes. Her first six items will be custom made at a 3D knitwear factory in New York and will range in size from XXS to 6X. Fashion

– Childcare expenses. By 2021, the average annual cost of child care in the United States will reach $10,600, about 5% higher than in 2020. wealth The states with the highest child care costs in 2021 are shown, with Massachusetts, Washington, New York, and California at the top of the list. wealth

– menopause leave. Bank of Ireland employees going through menopause will receive up to 10 days of paid leave for symptoms. The bank announced the new policy on Wednesday, joining other European employers looking to prevent menopausal employees from leaving the workplace. Bloomberg

on my radar

Meghan Markle tells her to let her guard down type

Where are all the people in Moscow? New York Times

Meet the teen queen who specializes in pickles Washington post

Iranian athletes greeted by heroes at airport after removing hijab Bloomberg

parting word

“A very close friend at the time encouraged me to embrace success in the same way [drama school] Let us be prepared to accept failure. Meditate on saying yes and accepting what may happen. ”

– Actor Lupita Nyong’o Embrace Succeed in acting, rather than expecting failure, as she was often advised as a graduate student at the Yale School of Drama.

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