This Hilarious Slide Perfectly Demonstrates Corporate America's Venezuela Strategy
Emerging market economies offer fantastic growth opportunities for multinational corporation.
But conducting business in these markets comes with all sorts of risk. They tend to experience high inflation rates and volatile currency swings.In February, Venezuela undertook a massive currency devaluation that instantly wreaked havoc for companies doing business in the country. In Q1, Coca-Cola took a $247 million charge because of Venezuela's bolivar.
The executives at Church & Dwight - the owner Arm & Hammer, OxiClean and Trojan - celebrated quite vocally during the CAGNY Conference earlier this year."I wanna talk about our entry strategy into Venezuela," teased Matt Farrell, Church & Dwight's CFO. "Come on! We're not doing it! What're you stupid?!"
"I'm writing a letter to the president of Venezuela to thank him for all of the pain and suffering and distraction he's causing all of my major competitors," he said.Farrell said that Church & Dwight would not be going into Venezuela in his lifetime. Here's the blunt slide Farrell used to communicate his sentiment.
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