PepsiCo CEO: Urgent Fixes Needed for Soft Drinks Business
Dow Jones10-08 22:01
PepsiCo's CEO said his company is losing the beverage wars.
Ramon Laguarta said PepsiCo isn't competing well in soft drinks, including its flagship Pepsi. It plans to put "all the urgency of the business and the focus on improving our performance in soft drinks," he said on a conference call.
The plan includes increasing investment behind recently acquired prebiotic soda brand Poppi as well as Mountain Dew and Pepsi. The company is focused on cutting costs and investing those savings back into the beverage business, he said.
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