The International Cricket Council (ICC) announced that the then Pepsico Chairman and CEO Indra Nooyi has been appointed to the ICC Board as the organisations' first independent female Director. Mrs. Nooyi joined the Board in June 2018 to align with the term of ICC Independent Chairman, following the Unanimous confirmation of her appointment at Board's meeting.
The introduction of an independent Director, who must be female, was approved by the ICC full council in June 2017 as part of wide ranging constitutional change aimed at improving the global governance of the sport.
Mrs. Nooyi is a global business leader, consistently ranked by Fortune Magazine among the world's most powerful women. As Chairman and CEO of Pepsico, Mrs. Nooyi was responsible for a global food and beverage portfolio that includes 22 brands generating more than $ 1 billion each in annual retail sales, including Quaker, Tropicana, Gatorade, Frito-lay and Pepsi cola. Mrs. Nooyi is also the chief architect of performance with purpose. Pepsico's vision to deliver top tier financial performance over the long term by integrating sustainability into company's business strategy. Under her leadership, since 2006 Pepsico has focused on offering more nutrious food and beverages, minimizing their impact on the environment and creating opportunities for their employees and people across the markets they serve.
ICC Chairman Shashank Manohar said : "We are delighted to welcome Indra to ICC. Adding another independent director, particularly a female, is such an important step forward in improving our governance. To have someone of Indra's calibre is fantastic news for the global game. She is frequently recognized as one of the most important and influential people in business today, running one of the world's biggest corporations". "We undertook a global search looking for the right candidate who would complement the existing skills and experience already on our Board. A cricket enthusiast with experience in the commercial sector and independent of ICC, any member or state or associated organization were the primary criteria and in Indra, we have found an exceptional new colleague and we look forward to working with her in future".
The independent director will be appointed for a two-year term although she may be re-appointed for two further terms with maximum six year consecutive period of service.
In accordance with international standards of good governance, the Independent Ethics Officer for the ICC and Pepsico's General Counsel have reviewed and both formally approved the appointment, providing a clear framework for appropriately managing any potential or perceived conflicts of interest that might arise in the future.
Which amongst the following is NOT true in the context of the passage?