Chairman and Chief Executive Officer i WK Kellogg Co Gary Pilnick is taking heat online after suggesting that financially strapped Americans should eat cereal for dinner during a recent interview.
Pilnick appeared in an interview with CNBC last week, where he promoted the brand's latest ad campaign with the tagline: “Give Chicken the Night Off.” In the interview, he suggested that Americans who are struggling financially should choose cereal as their weeknight dinner.
“The cereal category has always been quite affordable and tends to be a great destination when consumers are under pressure,” Pilnick said. “If you think about the cost of cereal for a family versus what they might otherwise make, it's going to be a lot more affordable… Cereal for dinner is something that's probably trending right now, and we'd expect that to continue such as that consumer. under pressure.”
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U.S. grain prices are up roughly 28% since the start of 2020, according to most. the latest data from the Bureau of Labor Statistics, while the Kellogg Company increased prices by over 12% across all products during fiscal 2022-2023.
In March 2023, Kellogg announced that its North American cereal division would change to be named WK Kellogg Co. while the global food brand would be called Kellanova.
WK Kellogg Co. no net sales reach $2.76 million in 2023, growing 2.5% year over year.
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“As an independent company, we are already experiencing the benefits of greater strategic focus and operational flexibility as we target our organization, capital and resources toward achieving our strategic objectives,” Pilnick said in a company statement at the time.
Naturally, Pilnick's comments were met with backlash on social media.
Kellogg CEO Gary Pilnick, in a $5 million package, says poor families should eat 'cereal for dinner'.
Cereal prices increased by 28% in the last 4 hours.
He will not cut profits or give people a raise.
What does he think will happen to people who are denied a good diet?https://t.co/GBO1SV4B6J
— Prem Sikka (@premnsikka) February 27, 2024
Kellogs is among the least affordable foods for struggling people.
— D10cat (@TriciaD11cat) February 27, 2024
WK Kellogg Co, was down up 13.5% in a one-year period as of late Tuesday afternoon.