NAMED. Indra Nooyi, 50, chief financial officer of soft-drink giant PepsiCo; as the company's chief executive, making her one of just 11 women to head FORTUNE 500 companies; in New York. The Indian-born, straight-talking Nooyi will succeed Steven Reinemund in October. With Nooyi at the helm, PepsiCo will be the largest U.S. company, by market value, to be led by a woman. "Being a woman, being foreign-born, you've got to be smarter than anyone else," Nooyi said last week.

SENTENCED. Mel Gibson, 50, controversial movie star who was arrested last month after driving while intoxicated and showering...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!