Pepsico PEP

Pepsico Throws $1 Million Plus 50th Anniversary Party [REPORT]

FOX BUSINESS NETWORK’S CHARLIE GASPARINO REPORTS PEPSICO (PEP) THREW A 50TH ANNIVERSARY PARTY WITH COSTS THAT “WELL EXCEEDED $1 MILLION”

FOX Business Network’s (FBN) Charlie Gasparino reports PepsiCo CEO Indra Nooyi threw a “secret star-studded bash last night to celebrate the company’s 50th anniversary that left shareholders with a massive bill,” with “costs that well exceeded $1 million.” Gasparino went on to say “nearly 500 people” were in attendance, including “nearly all the company CEOs, as well as Dallas Cowboys owner Jerry Jones, NFL Commissioner Roger Goodell, and NY Giants owner John Mara,” with Jerry Seinfeld serving as the master of ceremonies and Lionel Richie as the musical entertainment.

On PepsiCo’s 50th anniversary party:

“PepsiCo (PEP) chief Indra Nooyi threw a secret star-studded bash last night to celebrate the company’s 50th anniversary that left shareholders with a massive bill while hundreds of guests feasted on steaks, listened to Lionel Richie sing and heard Jerry Seinfeld crack jokes, the FOX Business Network has learned. Among the nearly 500 people in attendance included nearly all the company’s CEOs, as well as Dallas Cowboys owner Jerry Jones, NFL Commissioner Roger Goodell, and NY Giants owner John Mara. New York Governor Andrew Cuomo received an invite but was a no-show, according to people with direct knowledge of the matter. Seinfeld was the master of ceremonies for the event, while Richie sang a number of his hit songs. Richie confirmed his appearance; a Seinfeld representative didn’t return calls for comment.”

 

On the Pepsico guest list:

“In addition to members of the media, left off the invite list was PepsiCo investor and corporate activist Trian Partner’s Nelson Peltz, who has been critical of Nooyi’s management in recent years, these people say.”

 

On the estimated cost of the party:

“Yale University management professor and frequent Peltz critic Jeffrey Sonnenfeld was spotted at the event, which had costs that well exceeded $1 million, all of which was picked up by PepsiCo shareholders, these people say. Seinfeld is said to charge about $250,000 for such events and neither he nor Richie performed for free. Sonnenfeld did not return repeated telephone calls and email over whether he viewed the expenditure as a proper use of shareholder money.”

Pepsico PEP

Pepsico PEP

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    That’s called marketing – they brought in the decision makers for major event venues hoping to influence the negotiations PEPSI has with the venues to stock and serve their products.

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    June 12, 2015 at 1:51 pm

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