25 most powerful people in business

Chairman and CEO, PepsiCo

Smart, irreverent and armed with a global perspective, Nooyi is the most powerful woman in business. She was the main architect of the dramatic reshaping of Pepsi that began in the mid-1990s. The company jettisoned restaurants, picked up Gatorade and Quaker, and created a portfolio that put Pepsi a decade ahead of the pack in anticipating consumers' desire for both healthier products and more sustainable business practices.

The numbers have been good too. Annual net income more than doubled to $5.6 billion in the five years that ended last year, and the stock price increased 68% over the same period. Nooyi, who became CEO in October 2006, calls this "performance with a purpose." Her goal: to make Pepsi a model 21st-century company - both responsible and successful. --Betsy Morris