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Ramon Laguarta: “We're a local, for local business. We grow potatoes, corn…”

Featuring: Ramon Laguarta, Chairman and CEO of PepsiCo | National

PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ

Published January 16, 2024 | Video Starts at 06:16

I mean, are you at all affected by what's going on in the Red Sea at the moment? I mean, what are the things that worry you? Not so much … We're a local, for local business. We grow potatoes, corn, oats in every market. … in every market and we sell in every market. So we're very local for local business. So we're isolated from what are the trade disruptions that happen. (06:16–06:30)

CLAIM

Asserts that PepsiCo operates a local-for-local business model for certain crops.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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Ramon Laguarta

“We've been having a lot of inflation on both sides.”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 03:17-03:24
“We had to absorb tens of billions of inflation in our company in two years.”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 03:23-03:29
“We're seeing many of the large commodities starting to go back to lower levels of inflation.”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 03:46-03:59
“Agriculture is still inflationary for next year due to bottlenecks in the agriculture industry.”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 03:58-04:12
“Geopolitics is a concern. Five years ago, geopolitics had less relevance in our strategic plans.”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 06:47-07:03
“Convenient foods is about a trillion dollar category growing 5 to 6% globally.”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 08:21-08:27
“Beverages is also close to a trillion dollars growing 5 to 6%.”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 08:27-08:32
“We have a $40 billion international business which is larger than most of the consumer companies out there.”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 12:07-12:15
“In many countries we have Lays already below WHO sodium standards and natural colors and flavors.”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 13:27-13:35
“When you take a brand like Pepsi, which had 11 grams of sugar... now has 7 or 5 grams.”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 13:37-13:49
“Public policy needs to do more work on [the ultra-processed food debate].”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 15:01-15:03
“If we want to fit the world, we cannot feed the world with fresh food.”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 15:12-15:18
“We control the oil temperature, we control the oil quality.”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 16:05-16:10
“There's no acrylamide [in our potato chips].”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 16:09-16:11
“We see it [the ultra-processed food debate] as a potential risk, but we see it as a huge opportunity for us to bring R and D capabilities.”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 17:29-17:36
“Even in this [weight loss drugs] will be a long term impact, if any and it will be very minor to our organization.”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 18:49-18:57
“We have products that will be a little bit impacted, products that will be positively [impacted by weight loss drugs].”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 19:00-19:06
“I don't think it [weight loss drugs] changes at all the strategy of the company.”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 19:14-19:18
“We have the R and D opportunities and the M and A opportunities if needed to just keep transforming our portfolio.”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 20:12-20:21
“We're using Europe as a kind of leading markets for a couple of things for as you said, innovation based on permissibility.”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 20:58-21:10
“In the UK there was a sugar tax that was put in place, I don't know exactly, maybe eight or ten years ago.”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 21:49-22:01
“Nine years later, 95% of the cola business in the UK, our cola business is Non sugar.”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 22:14-22:22
“Now this legislation [sugar tax] is being adopted in many countries.”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 22:50-22:53
“We made a commitment just a month ago about we want to have, I think it's 150 billion servings of diverse ingredients.”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 24:22-24:33
“The most important one, for example, is whole grains.”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 24:32-24:36
“The most deficiency in the diet, in the American diet is fiber.”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 24:37-24:44
“The adoption, the number one country is Germany. With adoption is only 12% of the families.”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 26:41-26:51
“Now in many cases its infrastructure for recycling is lacking and the right legislation to create that infrastructure is lacking.”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 27:06-27:18
“We're trying to get the US to adopt good epr.”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 27:34-27:39
“Some countries, like China for example, don't even accept that we take bottles and we put them back into bottles.”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 27:38-27:46
“The US lacks the infrastructure, China lacks the regulation.”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 27:56-28:00
“There is a global plastic treaty that is being negotiated.”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 28:15-28:20
“Infrastructure for recycling is the biggest enabler that will reduce plastic pollution in the world.”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 28:31-28:38
“We can sell a bag of [Lays] in India in rural areas for 4 cents and still make a decent profitability.”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 30:02-30:13
“Pakistan is one of the markets where we're feeling a little bit of backlash, especially in the Karachi area with our brands.”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 31:43-31:51
“Our GM in Pakistan started from being a salesman.”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 32:53-32:57