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Ramon Laguarta: “We've been having a lot of inflation on both sides.”

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 03:17

I've never been through four years with this kind of incredible impact and disruption. You think about COVID how we had to pivot our organizations to this, try to supply consumers with half of the … We've been having a lot of inflation on both sides. … in our company in two years. This is unusual. It's the first time we had to do that. (03:17–03:24)

CLAIM

Asserts that inflation has been affecting both suppliers and customers.

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 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
“We're a local, for local business. We grow potatoes, corn, oats in every market.”
PepsiCo CEO on Tackling Inflation, Weight-Loss Drugs and More | WSJ | Uploaded January 16, 2024 | 06:16-06:30
“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