'Commodity price rise a challenge for PepsiCo'
Beverage and snack major PepsiCo plans to introduce new products in 2008 while battling a global rise in commodity prices, says its Indian American CEO Nooyi.business Updated: Dec 22, 2007 15:13 IST
Beverage and snack major PepsiCo plans to introduce new products in 2008 while battling a global rise in commodity prices, its Indian American CEO Indra Nooyi said in Chennai on Saturday.
Speaking at a press conference, Nooyi said maintaining the current growth rate and profitability would be a challenge for the company at a time when commodity prices were increasing.
The company, which brings out products under brand names like Pepsi, Frito-Lay, Tropicana, Gatorade and Quaker, uses large quantities of commodities like oil, soya, potatoes, fruits and food grains.
This year, the company started using rice bran oil instead of palm oil in India.
Nooyi, who originally hails from Chennai, is here to inspect a PepsiCo-sponsored waste management project in Pammal municipality.
She said the company in 2008 would be to innovate and introduce new products while being seen as a responsible corporate citizen.
When asked to access her performance as CEO, Nooyi said: "The earning per share has gone up by 14 per cent since I took over. There is growth in the top and bottom line and the company board has no complaints with me."
As for her future plans for the company, Nooyi said she would like to see PepsiCo confirm to the motto of "performance with purpose".
"PepsiCo subsidiaries in the Middle East, India and western Europe are taking various initiatives in this regard. The entire company has bought the concept of performance with purpose," she said.