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Fortune
Fortune
Diane Brady

HISTORICAL FACTS: Pepsico started losing the cola wars when its ceos lost focus - Caught on Camera

PepsiCo Coca-Cola Fortune Pepsi CEO Daily KFC
(Credit: Iñaki Berasaluce/Europa Press via Getty Images)
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Good morning. PepsiCo CEO Ramon Laguarta knows that he has a cola problem. He said “we’re not competing well in soft drinks” on his third-quarter earnings call. And last week KFC said it will switch to Coca-Cola products at its 3,700 U.S. restaurants, ending a 40-year partnership. As my colleague Phil Wahba writes, “Pepsi has suffered many setbacks in recent years, but perhaps few were as symbolic as being jilted by a long-time partner it used to own, KFC.” (Taco Bell and PepsiCo did renew their U.S. deal for 11 more years.)

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