The multimillionaire CEO of the US food processing giant and cereal icon Kellogg’s has been slammed for recommending poor families should manage by feeding their children “cereal for dinner”.
Gary Pilnick made the comments during a discussion on CNBC’s Squawk on the Street about high grocery prices - as millions of families continue to struggle with feeding their children nutrient-dense, yet affordable meals amid soaring food costs. Pilnick, reportedly worth almost $16million according to Wallmine, said: "The cereal category has always been quite affordable, and it tends to be a great destination when consumers are under pressure. If you think about the cost of cereal for a family versus what they might otherwise do, that’s going to be much more affordable."
The CNBC host Carl Quintanilla asked the boss of brands like Frosted Flakes, Froot Loops, Corn Pops and Rice Krispies whether his remarks could “land the wrong way” with consumers who have seen grocery prices rise by around 26% in general since 2020.
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The CEO made some slightly controversial comments (CNBC)Pilnick did not take it back or hold back however and hammered his point home. “In fact, it’s landing really well right now. Cereal for dinner is something that is probably more on trend now, and we would expect [it] to continue as that consumer is under pressure.”
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However many have been quick to criticize him for his views. A social media user referred to a September 2023 Securities and Exchange Commission filing which showed Pilnick earned an annual base salary of $1m and more than $4m in incentives when criticizing his controversial comments.
“This fool is making 4m bucks a year,” that user said. “Do you think he’s feeding his kids cereal for dinner?” More than 13 million children are facing hunger in the USA.
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According to the USDA, one in every five children is unsure where they will get their next meal. Another user on TikTok reacted by saying: “What the hell kind of dystopian hellscape is this? Give the peasants cereal for dinner!”
One retorted: “Eat the rich instead".” Many have also commented on just how expensive cereal is - with Kelloggs' products being among the most expensive on the shelves.
Pilnick, reportedly worth almost $16million according to Wallmine, said families choosing cereal for dinner was becoming a 'trend' (NurPhoto via Getty Images)One person argued that a $10 family-size box of cereal along with a $3 carton of milk would cost about the same as frozen lasagne meant to feed the same amount of people for dinner, making the millionaire's comments obsolete. In 2022 Kelloggs made whopping revenue of $15.31 B an increase over the years 2021 revenue that were of $14.18 B.
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