Press Clips: Reebok Removes Soda from Company Headquarters, Muhtar Kent’s $10.6 Million Pay Cut

ReebokNoSodaReebok Removes Soda From Company Headquarters

Reebok is ending the sale of carbonated soft drinks, highly sweetened beverages, energy drinks and candy bars from its Canton, Mass. headquarters. Yahoo Finance reported on the company’s wellness initiative dubbed “See Ya Soda,” which will also see the end of fried food, white bread and pasta in Reebok’s cafeteria. The campus’ 1,100 employees will still be allowed to bring such food and beverage items in from home.

“Everyone is entitled to their own choices, we’re not going to tell people what they can or can’t do,” said Yan Martin, Reebok’s vice president of brand management. “But what we can do is bring to life our fit lifestyle. We want to really put forward that approach. There is really nothing good that can come out of drinking soda.”

Muhtar Kent’s $10.6 Million Pay Cut

The Coca-Cola Company reduced CEO Muhtar Kent’s annual pay package by more than 42 percent in 2015, Fortune Magazine reports. Down to $14.6 million last year from $25.2 million in 2014, the decision to do so came out of the company’s cost-cutting efforts to boost growth amidst declines in revenue. The cut came via reductions in Kent’s stock and option awards and a reported zero growth in the value of his pension benefits, while his $1.6 million annual salary remained unchanged.

Bottled Waters Prepare for Battle in Montreal

An effort to ban the sale of plastic water bottles in Montreal is being met with opposition from the likes of the Coca-Cola Company, Pepsico, and Nestlé. According to The Independent, the Canadian Beverage Association, on the behalf of 60 beverage brands, has submitted a document to Quebec’s registry of lobbyists seeking to reject Montreal mayor Denis Coderre’s proposal. Coderre, who has previously taken action to ban lightweight plastic bags in Montreal, called the pileup of 700 million bottles in Quebec landfills annually an “environmental nuisance”, telling CBC News that “the reality of plastic in our environment is a problem.”

Is Fairlife Coke’s Next Billion Dollar Brand?

Bloomberg has taken a look at Fairlife, the Coca-Cola-backed premium milk brand that began rolling out nationally in early 2015. With distribution handled by Coke’s Venturing and Emerging Brands division, Fairlife reached $90 million in sales last year, a number that CEO Steve Jones says he think he can increase tenfold. Jones, who previously worked at Coke with orange juice brand Simply, told the publication he thinks premium milk can see the same type of success.

“[Simply] proved to me that you can take a commodity and transform it into a dynamic high-growth category,” Jones said. “We can do the same to milk.”

Gwyneth Paltrow’s Expensive Smoothies

Last week Gwyneth Paltrow published her morning smoothie recipe on her lifestyle site Goop. The Daily Mail has since added up the ingredient list – which contains a blend of almond milk, almond butter, coconut oil, mushroom protein powder, maca, ashwagandha, ho shou wu, cordyceps, himalayan sea salt and varying varieties of Moon Juice’s moon dusts (depending on whether you have to go to work or have sex on the given day) – putting the price of the actress’ “basic” morning concoction at $200. It’s the dusts that’ll really set you back, which range between $55-65 per 2 oz. container.

VICE’s Visit to Expo West

Munchies was at the Anaheim Convention Center last weekend for Natural Products Expo West. Writer Javier Cabral pointed to products like Coco Libre and CocoMazing’s sparkling coconut waters, matcha and on-tap nitro coffees as the most exciting items of this year’s show. Other beverage brands featured in the roundup include high pressure processed coconut water Sri Lanka Gold, Wildbrine’s probiotic kimchee shots and Teecino’s dandelion nitro teas.