Blog: From Russia to raw materials: PepsiCo's Nooyi at Davos
Dean Best | 28 January 2011
PepsiCo chairman and CEO Indra Nooyi has been at the World Economic Forum in Davos this week and has been giving her views on issues specific to her business and to the industry at large - Russia and, secondly, the surge in raw-material costs.
According to the Wall Street Journal, Nooyi told reporters at Davos that Moscow's clearance of PepsiCo's acquisition of dairy giant Wimm-Bill-Dann (a deal first announced in December) was a sign that the country was "open for business".
"Russia is very exciting to us," Nooyi said, according to the WSJ. The PepsiCo chief said Moscow has been "extremely supportive" of the move to buy Wimm-Bill-Dann and added: "The Russian government is sending a message: We are open for business and we are open for foreign investment."
Nooyi's comments on raw materials were less positive. Food makers and retailers around the world have faced volatile commodity costs in recent years and, according to Bloomberg, Nooyi believes such swings in prices are "here to stay".
Growing demand in the East and "environmental shocks" will affect prices in the years ahead, Nooyi told the news agency.
Expect more from Nooyi on both these issues on 10 February, when PepsiCo issues its fourth-quarter and annual financial results, which will be covered at length by just-food.
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