Blog: Kent's dire warning puts Coca-Cola woes in the shade
Andy Morton | 25 January 2016
The global elite were in Switzerland last week for the World Economic Forum in Davos, the annual corporate huddle for the rich and powerful. The CEO of The Coca-Cola Co, Muhtar Kent, was there too, despite his company arguably being slightly less rich and powerful this year after some bruising quarters in the marketplace. Last year, there was even talk that the Coke owner is in line to be taken over by Anheuser-Busch InBev's masters.
The sunglass-wearing Kent didn't discuss that in an interview with Yahoo, but he did take time to warn that the business world is a “volatile place”, with previously fast-growing markets slowing down and slower-growth regions such as the US speeding up.
He also threw cold water on alarm over China's slowing growth rate, saying 6% is pretty solid for a country of its size.
“When you get up there, the air is thinner,” Kent said, sagely.
As befits the atmosphere in Davos, where delegates love to tackle the world's bigger problems with some blue-sky thinking, Kent laid into widening equality gaps and the continued stripping out of white-collar administrative jobs by the new digital economy. He proposed more apprenticeships and a focus on youth employment, and offered his own dire warning of what could happen if nothing is done.
“The whole social mosaic is going to crumble,” he said. “And we're all going to crumble underneath it.”
It puts Coca-Cola's full-year results next month into a useful context.
Bacardi's 42 Below vodka brand has found a novel way to use the lemons left over from cocktail-making: Turn them into liquid soap....
Philadelphia’s soda tax came into force on Sunday, and is reportedly causing a stir in the city's check-out aisles....
Earlier this month, I was most-kindly invited by Accolade Wines to visit the Royal Albert Hall in London. The reason? They wanted to see a tennis great in action, and then give them a guided tour thro...
Do you like whisk(e)y? And, I mean, really like whisk(e)y? Are you at a loose end in the first half of 2017? If so, then I've found just the job for you....
- Interview Berry Bros & Rudd CEO Dan Jago - Part I
- The threat of excess choice in beer is over-stated
- Key trends for the beer category in 2017 - Focus
- Key trends for the spirits sector in 2017 - Focus
- Key trends for the alcohol category in 2017
- Pernod Ricard's Method and Madness Irish whiskey
- Premium to counter mainstream in gin - research
- Bacardi lines up Canadian bottling plant closure
- Pernod unveils new St Patrick's Day Jameson bottle
- Wm Grant names Victor Jerez business director
- Global vodka insights - market forecasts, product innovation and consumer trends
- Global rum insights - market forecasts, product innovation and consumer trends
- Global Cognac insights - market forecasts, product innovation and consumer trends
- Battle of the Generations - The fight for iGen, Millennial, Gen X and Baby Boomer consumers
- Global gin insights - market forecasts, product innovation and consumer trends