Allow Them to Have Cereal? Many Are Offended by WK Kellogg CEO Gary Pilnick’s Cost-Saving Idea
Earlier this month, WK Kellogg CEO Gary Pilnick recommended that customers eat cereal for supper in order to save costs on groceries during an appearance on a CNBC US news show. As more than 11% of disposable consumer money is spent on food, his remarks drew harsh condemnation, with many calling him tone deaf. Spending on food is at an all-time high compared to the previous 30 years.
“We would expect to continue as that consumer is under pressure,” Pilnick said to CNBC US anchor Carl Quintanilla. “Dinner cereal is probably more on trend now.”
However, since a bowl of cereal with milk and fruit costs less than $1, the cereal category is often where a lot of people would visit. Thus, it makes sense why a customer who is under duress would consider it to be a desirable location to go,” he said.
People promptly pointed out that Pilnick earned more than $4 million in revenue last year on the internet. According to a CNN story, food prices have increased dramatically since the outbreak as a result of businesses trying to offset increased labor, ingredient, and shipping expenses. As of December 30, the company’s net revenues were $651 million.
The US Bureau of Labor Statistics reports that since January 2020, the price of grain alone has risen by 28%. The most recent fiscal year saw a 12% price increase from Kellogg.
CNN reports that worried online users also emphasized the fact that cereal is not a nutritious alternative to supper.
Families are being forced by greedflation to make financial decisions like having cereal for supper. On social networking platform X, someone said, “Kellogg’s CEO is boasting about it while they show the huge climb in corporate profits that helped create the problem in the first place.”
“In the meanwhile, he makes his own dinners when he isn’t dining at five-star establishments. Completely repulsive. Eat. The. Rich, was what someone else said in response to the Instagram video of the exchange.
