Amazon steps up diversity hiring, adds ex-PepsiCo CEO Indra Nooyi to board

Indra Nooyi has been awarded 549 shares of Amazon's common stock as part of the appointment process

In what appears to be Amazon's effort in increasing gender diversity among directors, the technology giant on Monday appointed former PepsiCo chief executive officer (CEO) Indra Nooyi to its board. According to the company's regulatory filing, Nooyi will also join the audit committee of the board, reported Reuters. 

"On February 25, 2019, the Board of Directors of Amazon.com, Inc. (the “Company”) elected Indra K Nooyi as a director of the company, and also appointed her to the audit committee of the board," Amazon wrote in an 8-K SEC regulatory filing. 

Nooyi's appointment comes soon after Amazon added former Starbucks chief operating officer Rosaling Brewer to its board earlier this month, the second African-American to serve on its board. The company now has five women — Nooyi, Brewer, Jamie Gorelick, Judith McGrath and Patricia Stonesifer — on its 11-member board. 

In May 2017, Amazon adopted a proposal to apply the National Football League policy — the Rooney Rule — that requires teams to consider minority candidates, reported CNN.  

Nooyi, who was born in India, is the second high-profile addition to Amazon's board. She had stepped down as PepsiCo's CEO in October 2018 after a 24-year-tenure at the snack and beverage company. She had served as the company's CEO from 2006 to 2018. Prior to becoming the CEO, Nooyi had served as the company's chief financial officer. She had also spearheaded the company's efforts to focus on healthier food and snacks. She was among a handful of women of colour leading a Fortune 500 company. 

Nooyi has also served as a director on the board of oilfield services provider Schlumberger since April 2015.

As part of her appointment, she has also been awarded 549 shares of Amazon's common stock. 

"In connection with her election, Ms. Nooyi was granted a restricted stock unit award under the Company’s 1997 Stock Incentive Plan for 549 shares of common stock of the Company, to vest in three equal annual installments beginning on May 15, 2020, assuming continued service as a director. Ms. Nooyi also entered into an indemnification agreement with the Company in the same form its other directors have entered, which is filed as an exhibit to Amendment No. 1, filed April 21, 1997, to the Company’s Registration Statement on Form S-1 (Registration No. 333-23795)," the company said in its regulatory filing.