Blog: Katy AskewMead Johnson faces conference call backlash

Katy Askew | 25 July 2013

Infant formula giant Mead Johnson had a bit of a nightmare conference call today. And not for the reason you might think.

As expected, the US company was grilled over the development of its operations in China, where it has been forced to drop prices amid an anti-trust probe from the country's regulators. The group has predicted the cuts will have a negative impact on sales of around US$30m.

But questions over the group's operations weren't the only thing challenging management this morning.

First, the company was berated for limiting the conference call length to just 45 minutes - with 30 minutes of this taken up with prepared remarks. "With so many questions around China you should be taking calls... until the last dog dies," one analyst insisted. "It is totally bogus".

The sentiment was seconded by the next analyst, while subsequently further commentators passed the line due to the "unfortunately short" nature of the call.

And then, like a comedy of errors, the fire alarm went off. 

Saved by the bell? Not quite. Just as Mead announced it would reschedule the remainder of the call because the "alarm is real" it stopped. The call continued, with a slight extension to make up for the interruption.

Not the smoothest of conference calls.


BLOG

Tesco-Booker deal gets green light as UK grocery landscape shifts

Here in the UK, we've had two significant pieces of M&A news in the grocery retail channel in the last 24 hours....

BLOG

Getting the basics right online

Failed launches cost grocery brands operating in the UK over GBP30m per year - but ironing out mistakes made in listing new products online could help improve marketeers' chances of success, according...

BLOG

US trade body GMA loses another high-profile member

Just months after Campbell Soup Co. decided to leave The Grocery Manufacturers Association, the US lobby group is to see another major member leave....

just-food homepage



Forgot your password?