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.
The UK's competition regulator has given the all-clear to Hain Celestial's bid to buy UK food and beverage group Orchard House Foods, nine months after the US group announced the deal....
Hershey made an unusual announcement today (20 September), sharing its own sales data for the last four weeks to assuage any possible investor concern over figures released by Nielsen....
As the UK starts to ponder what kind of a relationship it wants with the European Union post-Brexit, EU leaders have been lining up to warn that Britain will not be allowed to "cherry pick" deals and ...
Low food prices continue to hold back inflation rates in the UK as the supermarket price war continues in the face of rising import costs. ...
- Interview: Mondelez eyes sweet success in China
- The benefits of engaging staff in sustainability
- How food companies involve staff in sustainability
- Why Danone is withdrawing Dumex from Vietnam
- Why May's Brexit comments give reason for optimism
- 2 Sisters chief Boparan buys Bernard Matthews
- Fonterra says value-added strategy paying off
- B&G Foods acquires ABF's US spice business
- General Mills profit falls as sales disappoint
- Bernard Matthews pensions scheme under review
- The Big 15: Strategies and Priorities of Top Packaged Food Players in Comparison
- Global Chocolate Confectionery Overview: Challenges, Opportunities and Risks
- Global Foodservice Market 2016-2020
- Global Food and Drinks Closures: Performance and Opportunities
- Fast Food Restaurants in the US - Industry Market Research Report