Coca-Cola Co’s finance head said on Wednesday that the removal of two bottles of the beverage giant’s soda put in front of Portugal soccer player Cristiano Ronaldo at a Euro 2020 news conference in June had no direct sales impact.
Ronaldo, a health nut who avoids fizzy beverages, mocked the brand by holding a bottle of water and uttering ‘agua,’ which is the Portuguese and Spanish word for ‘water.’ His conduct drove the internet into a frenzy and caused the company’s market valuation to plummet by billions of dollars.
Coca-Cola Chief Financial Officer John Murphy shared in an interview: ‘You have to take the long view on these partnerships. You’re always going to have some events that don’t necessarily go your way and we just deal with them and manage them as such.’
Murphy further said: ‘Our commitment to these major tournaments has not been affected.’
Following the reopening of theatres, restaurants, and stadiums, the soda producer boosted its full-year sales and profit estimates on Wednesday, indicating that demand for its products had recovered from pandemic lows.