The Oreo maker quickly pivoted early in the pandemic to boost its e-commerce channels, simplify its portfolio and offer right-sized packages for consumers during peak stockpiling.
When Dirk Van de Put took over as CEO of Mondelez International in November 2017, the seasoned food executive inherited an enviable portfolio of iconic brands such as Oreo, Ritz and Triscuit poised to thrive from the burgeoning demand by consumers to snack.
But in the three years since, the CPG giant has stayed anything but complacent, investing in its global and local offerings, improving its supply chain and acquiring smaller brands to double-down on its dominant position in snacking. It’s paid off, with the company increasing its market share and investors bidding up its stock price roughly 35% during that time.
“For me, the work never stops,” Van de Put said. “You need to constantly question yourself, am I connecting with the consumer? Am I understanding what is going on? … Are [shoppers] connecting to our brands? Are they consuming more? That by itself will constantly require us to question what we’re doing.”
Soon after Van de Put took over, Mondelez focused more attention on accelerating sales growth after several years where the company, similar to others in the food space, prioritized reining in spending and expanding profit margins. Mondelez has committed to organic net revenue growth of at least 3% annually; last year it exceeded that figure at 4.1%. READ MORE
by Christopher Doering
Source: fooddive.com
The Coca-Cola Co. has promoted Evguenia (Jeny) Stoichkova to president of global ventures, effective Jan. 1, 2023. Ms. Stoichkova joined Coca-Cola Bulgaria in 2004 and was most recently the president of the company’s Eurasia & Middle East division, a role she has held since 2021.
US-based Perfect Day, is partnering with Onego Bio, which specializes in creating animal-free eggs, aiming to accelerate the timeline to bring the eggs to the market. The business, with the use of its technology, plans to commercialize animal-free ovalbumin, the most abundant egg white protein extracted through precision fermentation.
Food waste costs the EU €143 billion per year (US$141.7 billion), with a report by Feedback EU raising the alarm of how it’s vital to reduce waste from farm to fork 50% by 2030 and the only way this will be achieved is by enforcing a mandatory directive forcing the food industry to do better and retailers to pay a tax of food waste.
