FOX Sports Exclusive
Coca Cola CEO responds to critics
In a Fox Business/FoxSports.com exclusive, the CEO of Coca Cola -- the longest running Olympic sponsor — says booting names like Coke and McDonalds from the Games because of their high caloric beverages and food is misguided.
Muhtar Kent says the greater part of his global sales now comes from products like water and fruit juice, not necessarily sugar-packed sodas. Don’t expect Coke to back down from the Brits on this one. Besides, it’s estimated Coke pays the International Olympic Committee some $100 million for the privilege of sponsorship. Kicking the can down the road and out of London would leave a huge revenue hole.
Believe me, the London Assembly’s quest against Coke is way down on the list of issues Kent is focusing on today. Listen to his priorities now, including how crucial (or not) the high price of corn is to his company as the Great Drought of 2012 jacks up prices, plus Kent names the nation he believes will be the first to claw its way out of the global financial crisis.