Kelloggs CEO, John Bryant, has announced that Breitbart News does not uphold to their ‘value structure’ and therefore they will no longer advertise with them… However, they have no problem employing children as young as eight years old to work in hazardous conditions in their Indonesian plant…according to Amnesty International.
Of course, the actions of the CEO in making a personal statement about advertising that has now caused the stock to drop, sales to be boycotted, and revenue to fall, could be cause for a class-action lawsuit by shareholders. Was he acting for himself? Or for the company and his duty to his shareholders?
Stupid is as stupid does.
Bryant, an Australian, was supposedly acting on the dictum of his Master, George Soros.
Of course, it wouldn’t be the first class-action lawsuit against the company since Bryant was CEO. In 2014, they settled a suit due to false and misleading labeling on their Kashi Brand which will ladeled with chemicals including; pyridoxine hydrochloride, calcium pantothenate, hexane-processed soy ingredients, ascorbic acid, glycerin and sodium phosphate. Thought that Kashi was pure and natural?
In 2013, they were sued for false advertising – and lost. Tch. Tch.
There was a five year wage class-action suit they lost in 2013, and twice they were ordered to pull products from the shelves, once for metal fragments found in the food and another for the presence of 2-methylnaphthalene in the packaging.
OXFAM has asked shareholders to pressure Kelloggs to cease and desist from their deforestation policies, and for their human rights violations at their factories in Thailand and Tennessee, where conditions are considered ‘deplorable’.
Apparently, these issues pale compared to the atrocities of Breitbart News which has … reported from a conservative profile…
They have come under continued media scrutiny for their high sugar content and massive use of high fructose corn syrup in their product lines. The two main ingredients of their cereals are typically sugar and Monsanto corn.
Worse: While Bryant was CEO, between 2013 and 2015 Operating Profit tanked 62%, per share value tanked 65%, and the number of employees rose by 10%. And during his tenure as CEO (since 2011), Bryant’s compensation package has risen by 50% to a whopping figure of about $10million in 2015!
The Kellogg Foundation was a financial supporter of Black Lives Matter, and has ties back to the Clinton Foundation through a web of tentacles strung through the American India Foundation for which Billy is an honorary Chairman. The AIF was cited for illegally raising political contributions on behalf of Clinton without having the authority to do so as it was not properly registered. The Kellogg Foundation, which is the largest institutional owner of Kellogg shares, has also been a major donor to the Soros Open Society Foundation.
Bryant currently holds about 296,000 shares of Kelloggs via Direct and Indirect ownership, at a value of about $72 per share – for a total value of $21,331,000. For the previous three years, as of 2015, Mr. Bryant sold off Kellogg stock options for over $25.4million, and sold $78million in stock, and $7.2million in equity grants for a whopping $111million pocketed.
Not a bad haul for someone dedicated to ethical and corporate values and responsibility…awww shucks!