Afternoons with Craig Needles
Groceries Becoming Too Expensive? Rich CEO Suggests Froot Loops For Dinner
The CEO of Kellogg, Gary Pilnick, has an idea for people who are finding their grocery store bills too be too expensive:
Cereal for dinner.
Yes, that’s their actual plan to increase sales.
Kellogg has created some ads promoting the idea, while Pilnick came off like a member of the French royal family in the 18th century in an appearance on CNBC to explain the idea.
“Is there a potential for that to land the wrong way?” the host asked about the idea of replacing actual meals with Corn Pops (emphasis mine).
“We don’t think so,” Pilnick hilariously replied, seemingly to triple down on the idea of Frosted Flakes being a suitable replacement for protein and nutrients that would come with a balanced dinner.
Pilnick makes more than $5-million each year, according to an SEC filing from last fall and he’s now being blasted for out of touch suggestions to deal with the affordability crisis – which clearly doesn’t impact him.
Kellogg, as you may recall, closed their London factory in 2014 – putting hundreds of people in this community out of work.
