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September 24, 2021

Nooyi, Smith stepping down as co-chairs of AdvanceCT, successors named

Gov. Ned Lamont with AdvanceCT co-chairs Indra Nooyi and Jim Smith.
By Zachary Vasile

Two leaders of AdvanceCT, the state’s business recruiting arm, are stepping down from their current roles but plan to stay on with the agency as directors.

Indra Nooyi and James Smith, who serve as co-chairs on AdvanceCT’s board of directors, are departing those posts after nearly three years. They will be succeeded by Margaret Keane, executive chair of the board of directors and a former CEO of Synchrony Financial, and Jeff Sonnenfeld, senior dean for leadership studies at the Yale School of Management.

State officials praised Nooyi and Smith for their role in reorganizing AdvanceCT and improving Connecticut’s business climate.

“Our state is fortunate to have them as friends who only want to see our residents, businesses, and communities succeed,” said Gov. Ned Lamont. “From assisting the state with the challenge of reopening from the COVID-19 crisis, to helping the state develop an economic development plan for the future, their work has made a difference and helped bring new corporate investment to our cities and towns.”

The two received similar praise from Peter Denious, AdvanceCT’s president and CEO.

“Their leadership, counsel and hands-on engagement have been invaluable and an inspiration to all of us,” Denious said. “Their continued service on the Board will allow for a seamless leadership transition.”

Nooyi is a former chairperson and CEO of PepsiCo, and Smith is the former chairman and CEO of Webster Bank.

AdvanceCT officials also announced that, on Sept. 17, Judy Marks, president and CEO of Otis Worldwide Corp. and Deepak Mishra, president of the Americas region of Philip Morris International, were elected as members and directors to AdvanceCT’s board.

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