Mondelez International Inc (NASDAQ:MDLZ) Chairman and CEO Irene Rosenfeld spoke with Fox Business Network’s (FBN) Maria Bartiromo regarding current consumer trends, emerging markets, the impact of Russian sanctions and advice to women leaders. On current consumer trends Rosenfeld said, “we’re finding our smaller sizes are selling well,” and, “we are looking at opportunities to provide more on the go products to our consumers.” Rosenfeld also discussed their international business, saying “40 percent of our revenue comes from the emerging markets,” and, “they are still growing at a considerably higher rate than we see in the developing markets.” As for Russian sanctions, Rosenfeld said, “there is no question it has an impact on the business,” but, “our business in Russia has been quite strong and continues to be strong.”
Mondelez CEO on consumer trends:
“Look it’s a tough environment out there as you look at the macro trends there’s no question it puts pressure on the consumer. We are putting a lot more emphasis on value, making sure our products are providing certain value to consumers. We’re finding our smaller sizes are selling well, our economy packs are selling well, and we are making sure we are offering a diversity of offerings of price points to our consumers. But, we are also finding that even in the midst of this there are still a couple of trends that are very consistent particularly in food. The focus on well-being and the desire to look for products that have beneficial ingredients, that have some of the more negative ingredients at lower levels, we are looking at opportunities to provide more on the go products to our consumers because increasingly around the world we see that with more working women consumers are eating outside the home.”
Mondelez CEO on emerging markets growth:
“We’ve got a fabulous set of innovations and we’ve got a fabulous geographic foot print, 40 percent of our revenue comes from the emerging markets. Without a doubt we continue to see the emerging markets as our greatest source of growth. Even though they have slowed down somewhat they are still growing at a considerably higher rate than we see in the developing markets, which continues to be where we put our emphasis in terms of foundational investments, en route to market, in capacity. We’ve put a renewed emphasis on operational excellence as well as insuring that our margins within our categories are robust enough to be able to provide the funding to fuel the growth.”
Mondelez CEO on Russian sanctions having an impact on business:
“There is no question it has an impact on the business. I am so proud of our Russian team. We are certainly seeing an impact on the economy, we are seeing some changes in importing some of our goods, but the facts are, our team has done a remarkable job of anticipating some of the issues and working within those parameters. Our business in Russia has been quite strong and continues to be strong.”
Mondelez CEO on getting more women in the corner office:
“I think it starts with a commitment to doing that. So, it’s about making sure people put a marker in for their desire of diversity on their management teams, on their boards, but I also think it’s a lot about the pipeline. Certainly one of the things that has contributed so much to the diversity in our company is the fact that it is a focus area in our bonus systems, it’s a focus area in our advancement planning and I think that has gone a long way to ensuring that it stays top of mind and that we are in fact grooming the next generation of leaders to more into our key positions.”
Mondelez CEO on advice to women:
“I think all too often women are not comfortable enough in speaking up and tooting their own horns. So, one of my most important pieces of advice that I give to our young women is, to make sure to ask for what you want, because I think it’s really important that we understand, we as leaders, understand what the needs and opportunities are for our young women that are coming along.”
