Indra Nooyi to serve on NY Fed board

New York, Mar 27 (UNI) Indian-American Indra Nooyi, who is currently president and chief financial officer of PepsiCo, has been elected to board of directors of the Federal Reserve Bank of New York.

According to New York Fed spokeswoman Linda Ricci, the appointment of Ms Nooyi takes immediate effect and she serves as the director till the year-end.

"She was elected for the unexpired portion of a three-year term ending December 31, 2006, succeeding Denis M Hughes, president of the New York State AFL-CIO, as a class B director," the spokeswoman said in a statement.

Ms Nooyi, who has been with PepsiCo since 1994 as president and CFO, was earlier senior vice president of strategy and strategic marketing for Asea Brown Boveri, and vice president and director of corporate strategy and planning at Motorola.

She earned her bachelor of science degree from Madras Christian College, an MBA from the Indian Institute of Management, Kolkata, and a master's from Yale University in public and private management.

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