PepsiCo (PEP) Pulls the Plug On Tiger Woods Drink
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PepsiCo Inc. (NYSE: PEP) is dropping a Gatorade drink that is named after and promoted by Tiger Woods, and the company's television ads have not been used since the scandals surrounding the world’s No. 1 golfer began.
Pepsi said move to drop the drink was not related to the recent media frenzy surrounding Woods. The company stated that they had planned to overhaul the Gatorade brand for month and this should not be tied to the Tiger's troubles.
"We decided several months ago to discontinue Gatorade Tiger Focus, along with some other products to make room for our planned series of innovative products in 2010," Gatorade spokeswoman Jennifer Schmit said in an e-mailed statement.
According to monitoring data from the Nielsen Co., advertisers have not run television commercials featuring the embattled golfer since the controversy started on November 27 when Woods smashed his car in the early morning into a fire hydrant outside his Orlando home.
Whether there will be more products featuring Woods pulled from the shelf remains to be seen, as each day brings new allegations and dark clouds over the once golden boy of advertising dollars.
Shares of PepsiCo are at $63.48 as the market opens on Wednesday.
Pepsi said move to drop the drink was not related to the recent media frenzy surrounding Woods. The company stated that they had planned to overhaul the Gatorade brand for month and this should not be tied to the Tiger's troubles.
"We decided several months ago to discontinue Gatorade Tiger Focus, along with some other products to make room for our planned series of innovative products in 2010," Gatorade spokeswoman Jennifer Schmit said in an e-mailed statement.
According to monitoring data from the Nielsen Co., advertisers have not run television commercials featuring the embattled golfer since the controversy started on November 27 when Woods smashed his car in the early morning into a fire hydrant outside his Orlando home.
Whether there will be more products featuring Woods pulled from the shelf remains to be seen, as each day brings new allegations and dark clouds over the once golden boy of advertising dollars.
Shares of PepsiCo are at $63.48 as the market opens on Wednesday.
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