Thursday, September 24, 2009

Dr Pepper CEO Interview

Emily Fredrix of the Associated Press recently did an interview of Dr Pepper Snapple Group CEO Larry Young. Here's the link.

In it, Young says he hasn't discovered any drawbacks to being spun-off from Cadbury. Ouch. That's gotta hurt!

Instead of sending issues to London for a decision, Young says "we can do it in a 15-minute meeting in the morning". In addition, Dr Pepper knows exactly what their resources are without having to compete with other business units for capital. Capex is budgeted at 5% of net revenue... period.

Young's enthusiasm is palpable despite his assertion that nobody "in the history of the soft-drink business could have taken a company public at a worse time."

He ought to know. Larry Young is a beverage industry veteran, not a financial engineer. He started at the bottom (loading delivery trucks) and worked his way up (way up). This is good all-American "pull yourself up by your bootstraps" stuff.

To quote Larry Young (again):

There's not a job in the business that I've not done. It's a business that gets in your blood. I tell people, 'If you cut me right now, my blood's carbonated." Beautiful!

If that weren't enough, Mr. Young drinks an RC Cola every day. Anyone who drinks RC is OK with me... even if it is diet. Larry Young is my kind of manager.

Read the interview and he'll convince you too.

1 comment:

  1. The Guy is a crook watch i bet he gets caught doing insider trading or something of that nature.