PepsiCo (PEP) CEO Talks Protecting Assets in Egypt Amid Crisis
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In an interview with FOX Business Network on Tuesday. PepsiCo (NYSE: PEP) Chairman and CEO Indra Nooyi said that the company is concerned with protecting its assets in Egypt amid the political turmoil that is gripping the nation.
“Anytime there is upheaval in a country we worry, especially if we have assets on the ground," Nooyi said. "These things have a finite time frame. During this period, we have to make sure our businesses are protected, our people are protected.”
The CEO does not seem concerned with the political protesting coming to the area, as Nooyi believes that the Pepsi's business in the region will remain unharmed during the unrest.
“The young people in the Middle East and the Arab world, and South Asia, and Southeast Asia are a great source of business for us. A large portion of those countries being people less than 25 years old; that is our prime population. And whether they are protesting or not protesting, they are still drinking the Pepsi and eating Lays. You need sustenance before you go out there and protest.”
Nooyi holds the view that the no political leader can remove oneself from the businesses in their nation and remain in control.
“Business is the engine of growth in almost every country in the world. I don’t know if the president of any country can be successful if they don’t have an open and honest dialogue with business in that country and invite ideas from business to see how to keep the country going."
The CEO also deflected a question about the possibility of offering more healthy alternatives to the company's product line.
“I think the consumer in the United States loves PepsiCo precisely for this reason; because we are offering them a wide variety of products. Doritos is not bad for you. Any product consumed in excess is bad for you. Everything has to be eaten in moderation.”
“Anytime there is upheaval in a country we worry, especially if we have assets on the ground," Nooyi said. "These things have a finite time frame. During this period, we have to make sure our businesses are protected, our people are protected.”
The CEO does not seem concerned with the political protesting coming to the area, as Nooyi believes that the Pepsi's business in the region will remain unharmed during the unrest.
“The young people in the Middle East and the Arab world, and South Asia, and Southeast Asia are a great source of business for us. A large portion of those countries being people less than 25 years old; that is our prime population. And whether they are protesting or not protesting, they are still drinking the Pepsi and eating Lays. You need sustenance before you go out there and protest.”
Nooyi holds the view that the no political leader can remove oneself from the businesses in their nation and remain in control.
“Business is the engine of growth in almost every country in the world. I don’t know if the president of any country can be successful if they don’t have an open and honest dialogue with business in that country and invite ideas from business to see how to keep the country going."
The CEO also deflected a question about the possibility of offering more healthy alternatives to the company's product line.
“I think the consumer in the United States loves PepsiCo precisely for this reason; because we are offering them a wide variety of products. Doritos is not bad for you. Any product consumed in excess is bad for you. Everything has to be eaten in moderation.”
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