This week Kellogg revealed the new corporate names for its soon to be split snacks business – Kellanova, and the legacy North American cereal business – WK Kellogg company. Kellogg has been in a world of pain for some time. The root cause has been breakfast, simply put people aren’t spending the time on breakfast …
Is there more to the spin-off of Kellogg’s US cereal business than meets the eye? Read More »
Snickers, the iconic confectionery brand, has global sales well in excess of $3b. Well that is until last year’s voluntary recall that saw the candy bar vanish from shelves. Here in Japan, Snickers was rare in being one of only three global confectionery brands that had almost universal distribution. Besides Kit Kat and Haribo, the …
The Snickers recall has been a long marathon. Can Mars’ commercial teams fight back? Read More »
M&A has long been part of Nestlé’s DNA, organic growth alone hasn’t made it the world’s largest food company. Rowntree chocolate (Kit Kat), Purina pet care, Gerber baby food are amongst its most famous plays. I worked in the company for 17 years in several markets – a requirement for all global executives – and …
Cash rich Nestlé’s M&A allergy bet sours. CEO comes clean; time to rewrite Rx playbook Read More »
Colgate Palmolive has come under fire from activist shareholder Dan Loeb’s Third Point hedge fund. He now holds a $1 billion stake in the company. Thirdpoint invests in companies undergoing spinoffs and pushes for “corporate change”. Loeb’s stake in Colgate is around 6% of the fund’s assets. Activist investors are becoming increasingly active in the …
Activist Dan Loeb barks loudly at Colgate’s door. Should they let him in? Read More »
The first time Tokyo listed Olympus appointed a foreign CEO it ended in tears. Michael Woodford’s tenure was short-lived. Woodford questioned huge fees paid to unknown companies which had links to criminal entities. Dismissed, he sued Olympus. The case concluded with a substantial out of court settlement in Woodward’s favour. Then Olympus was synonymous with …
Olympus looks to the future appointing its second foreign CEO Read More »
Why do firms and Governments hire consultants? In a recent Economist podcast, the paper tackled this question. It focused on the rise of McKinsey, Bain & BCG (aka MBB), their reputation for earning ‘fat fees’ and controversies, for example McKinsey’s work in China and Saudi Arabia. For many, including the Economist it seems, the role …
‘Managing the consultants’ the Economist’s Money Talks podcast weighs in Read More »
Last week the FT carried an interview with John Reid, the outgoing CEO of Mars. What few metrics are published by Mars (the company is one of the world’s largest, privately owned businesses), it seems that Reid’s tenure has been an unqualified success. Global revenues now exceed $45b and have leapt dramatically under Reid’s tenure. …
As Mars’ CEO retires, what big bets will his successor wage? Read More »
Most consumer goods companies drive growth through gaining penetration (new users, new points of distribution), upping frequency (often through occasion based marketing) and trading up (premiumisation). I’ve worked with many clients in multiple categories and there are always white spaces of untapped revenue, often close by. For many managers, sweating existing assets is less risky …
Founded in 1978 in Vermont, Ben & Jerry’s ice cream was sold to FMCG giant Unilever in 2000. Under Unilever’s stewardship the business has grown, and dig deep into the 2021 annual report, has sales over Euros 1 billion (US$1.13bn). Export has been a large growth contributor. The brand is sold in over 35 countries, …
S4 Capital has all the makings of a Harvard case study. It’s a tale of a mercurial advertising scion, spurned by a business he previously founded, who in 5 years turned a shell company into a global advertising giant. It’s a tale that is still in its early chapters. S4 Capital was founded in 2018 …
S4 Capital’s lust for whopper growth wrenches its auditor’s nerves Read More »