The CEO of the food company reasoned that low-income people should pay attention to food prices when food prices rise.
Kellogg’s CEO By Gary Pilnick the rumble is infuriating in the US, where inflation has driven up food prices.
On CNBC Live last week, Pilnick advised financially strapped consumers to eat more low-cost grains like cereal.
– A portion of cereal with milk and fruit costs less than a dollar. I think the pressured consumer will increasingly choose corn chips as a dinner option, Pilnick said.
– If you think about the price of cereal for the family compared to what they could otherwise do, it is affordable.
By consumer under pressure, Pilnick was referring to people who have trouble getting food when food prices rise, i.e. the poor.
The CEO’s words and reaction have been reported by several people american– and British media.
The CEO did not consider his comment problematic
Kellogg’s, led by Pilnick, manufactures breakfast products, and the company’s most important products are corn flakes.
Kellogg’s has been advertising cereal for dinner starting in 2022, when food prices in the United States rose to almost ten percent.
The advertising campaign has caused surprise, but Pilnick himself does not see it as problematic.
– It really hits the spot right now. Cereals for dinner are probably more in trend now and we expect that to continue because consumers are under pressure.
Nutrition experts have stated that sugary cereals are not suitable as a main source of nutrition. Cereals contain a lot of sugar, but little protein.
People got angry on social media
Pilnicki’s comments aroused widespread opposition on social media, not least because he himself is well-off.
The CEO of Kellogg’s earns four million dollars a year.
Democratic Senator Peter Welch condemned what Pilnick said.
– A Kellogg’s factory worker earns $20 an hour. He would have to work for 96 years to earn as much as Pilnick earns in a year.
– People wouldn’t have to eat nutrient-poor cereal if food companies would give up the pursuit of absurd profits by raising prices, Welch wrote.
According to the consumer price index, inflation in the United States was around 3.1 percent in January. In Finland, inflation was 3.3 percent in January, according to Statistics Finland’s data.
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