Manny Goldman
Manny Goldman
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But Dr Pepper is an important brand for CCE. Dr Pepper is the largest of the non-colas. It has a tremendous degree of brand loyalty.
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This means that Vanilla Coke has been doing badly and it is not working and not having the visibility that there is a decent chance that it will work longer term.
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It's a perfect fit because Pepsi has a hole in its product line. In the noncarbonated segment, Pepsi is pretty well set in fruit drinks and water and many other things, but they don't have a sports drink that counts.
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Daft is truly a long-term Coke employee with a stellar track record. There is a good relationship and high regard there with the board, otherwise he wouldn't have become chairman.