Get the app today! App Store Play Store

No Direct Impact On Sales From Ronaldo Snub, Says Coca-Cola CFO

Published on Jul 22 2021 8:30 AM in A-Brands tagged: Trending Posts / Coca-Cola / EURO 2020 / Ronaldo

No Direct Impact On Sales From Ronaldo Snub, Says Coca-Cola CFO

Coca-Cola Co has not seen any direct sales impact after Portugal soccer player Cristiano Ronaldo removed two bottles of its soft drink placed in front of him at a Euro 2020 press conference in June, the beverage giant's finance chief said on Wednesday.

Ronaldo, a health fanatic with an aversion to carbonated drinks, snubbed the brand by holding a bottle of water and saying "agua", Portuguese and Spanish for water.

Internet Frenzy

His action sent the internet into a frenzy and briefly wiped off billions of dollars from the company's market capitalization.

"You have to take the long view on these partnerships. You're always going to have some events that don't necessarily go your way and we just deal with them and manage them as such," John Murphy, chief financial office, Coca-Cola said in an interview.

"Our commitment to these major tournaments has not been affected," Murphy added.

The soda maker raised its full-year sales and profit forecasts on Wednesday, as demand bounces back from pandemic lows for its beverages following the re-opening of theaters, restaurants and stadiums.

News by Reuters edited by Donna Ahern, Checkout. Picture by ©UEFA.com For more A-Brands news click here. Click sign up to subscribe to Checkout.

Share on Facebook Share on Twitter Share on LinkedIn Share via Email