Business
Coca-Cola Loses ‘$4bn’ Market Value After Cristiano Ronaldo’s Gesture
Cristiano Ronaldo, Portuguese football star, removed two Coca-Cola bottles from his table during a press conference at the Euros 2020.
The gesture coincided with a $4 billion price fall in the value of the drinks giant.
After removing the carbonated drink, Ronaldo held up a bottle of water before saying “Agua” (water) in a gesture to encourage people to choose the latter instead.
Ronaldo raising a bottle of water instead
Coca-Cola, one of the official sponsors of Euro 2020, share price declined from $56.10 to $55.22 (a 1.6 percent dip) almost immediately after Ronaldo’s act, while the market value of the soft drink giant went from $242 billion to $238 billion (a decrease of $4 billion).
Responding to the Portuguese professional footballer act, Coca-Cola in a statement on Tuesday, said everyone is entitled to their drink preferences” with different “tastes and needs”.
Also a Euros spokesperson said: “Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conferences”.
Ronaldo’s action may be tied to his sponsorship agreement with Pepsi who is Coca Cola’s main rival, however, it can also be linked to his strict health diet as his known to dislike sugary foods, including soft drinks.
In 2020, he said: “We’ll have to wait and see if my son becomes a great player. At times he eats crisps and drinks fizzy drinks and he knows that makes me angry, but I guess that’s normal behaviour for a ten-year-old boy”.
Recently, Ronaldo also said: “I’m tough with my son. Sometimes he drinks Coca Cola and Fanta, he eats crisps and he knows I don’t like it”.
A major reshuffling in FirstBank, has seen to the disengagement of close to 100 senior staff members.
Report says that the board of FirstBank embarked on the exercise as part of the bank’s “corporate restructuring and repositioning,” following the confirmation of its new MD/CEO.
According to a Nairametrics report, a reliable source with direct knowledge of the matter, confirmed that some of the bank’s top executives were asked to leave as part of its repositioning plan for 2025.
The exits appear to be part of a concerted effort by the holding company of the board, led by Femi Otedola, to introduce fresh blood into several leadership positions in the bank, the source further explained.
Further information from the bank’s website shows it has about 13 members in its executive team, six general managers, 33 deputy general managers, and 37 assistant general managers.
It was also stated however, that some of the exits were voluntary, especially for senior executives, who intend to explore other career prospects.
Celebratory seasons, such as Christmas and New Year, are times when corporate organisations churn out new television commercials (TVCs) to connect with their customers and share the fun, euphoria and uncommon conviviality of such seasons.
One such organization which has over the years used this strategy to great effect is Nigeria’s top telecommunications brand, Globacom.
The exciting commercials that the technology company keeps rolling out fan the delight and elation of the season of goodwill. The brand employs the occasion not only to promote brand awareness but to felicitate its customers and the nation at large.
It is a tradition Glo has established. Since it started operations in 2003, it has always used television commercials as veritable tools of ensuring brand presence, marketing products and services and spreading joy among its various targets.
The 2024 Yuletide adverts it rolled out recently are not different. The two unique yet powerful commercials serve dual purposes. They felicitate the Nigerian people and spread mirth, which the season typifies, around existing and prospective customers.
Expectedly, the two new commercials have dominated the airwaves, and kept viewers talking and relishing the joy that Christmas brings.
The first commercial features juju music maestro, King Sunday Adegeye, popularly called King Sunny Ade, who parades a full ensemble of dancers and a rich, talented band in the TVC tagged “Merry Christmas”. The percussions, rhythm and dance merge to foster affability and enchanting memories of the season of glad tidings.
Before the party celebration where King Sunny and his band entertain guests, the TVC takes viewers back to the 1970s and 1980s when Christmas was celebrated with so much fanfare. It paints a vivid picture of rural Nigeria during Christmas where the warmth of tradition and community fills the air. The village with lush green vegetation is buzzing with excitement, with children playing, women cooking delicious meals in open-air kitchens, the aroma of local dishes (you can literally perceive it) mixing with the sounds of Afro Juju music. Families and friends gather around, dancing joyfully to the rhythmic beats, their faces beaming with happiness as they celebrate the festive season. A woman bearing the Aso ebi for the party is shown coming down from a Peugeot 504 car which also reinforces the advert as being set in the 1980s.
The television commercial by the telecom company captures the essence of togetherness, blending the cultural richness of rural life with the spirit of Christmas, all while subtly underscoring the telecom brand’s role in connecting loved ones, no matter how far apart they may be. It ends with “Better don come. Merry Christmas, Nigeria” further underscoring the reason for the commercial.
The second commercial tagged “Feliz Navidad” uses a galaxy of known artistes including Nollywood star, Timini Egbuson, as well as Uche Nwaefuna (Uchemontana), Chigozie Stephanie Alichi (Chizzy Alichi), Tomi Ojo, Eronini Osinachim, Kiki Bakare and Tope Adenibuyan (Teddy A) to pass across the message of Christmas.
At the heart of the Christmas party, the energy is electric as tap dancers take center stage, their feet tapping out intricate rhythms that blend seamlessly with the upbeat melody of Feliz Navidad. The sound of their shoes striking the floor creates a lively pulse, complementing the lively tunes of the music band performers who bring the festive song to life with vibrant instruments and harmonious vocals. Laughter and cheer fill the air as all come together to toast the season, sharing in the joy of music, movement, and the warmth of the Christmas spirit. The scene is a vibrant celebration of culture, unity, and festive joy, all set to the timeless sounds of Feliz Navidad.
These commercials have further endeared the Glo brand to its subscribers and the general Nigerian public as they enjoy the geniality of the season of love, hope, gifts and celebrations.
Talking about the Yuletide commercials, Ademide Gafar, an industry watcher opined that churning out great TVCs is one of the selling points of the Glo brand while John Michael, a marketing communications expert, noted that Globacom is not just a leader in the telecommunications sector but a prominent creator of unforgettable commercials. From the nation’s pride in telecommunications, it’s Feliz Navidad-Merry Christmas!
The management of First Bank of Nigeria Limited has dismissed allegations of fraud reported against it in a recent publication by an online platform, Tech Cabal, describing the claims as baseless and unsupported by evidence.
In a corporate statement titled ‘Correction of Misleading Information Regarding Fraud Allegations,’ Olayinka Ijabiyi, the Acting Group Head of Marketing and Corporate Communications, addressed the issue on behalf of the bank.
“We have been made aware of a recent publication by Tech Cabal containing allegations of fraud involving our institution. We wish to categorically state that the story is entirely unfounded and not supported by any factual evidence,” Ijabiyi stated.
The bank reaffirmed its commitment to ethical practices and transparency, urging the public to disregard the allegations. It emphasized its dedication to maintaining trust with its customers and stakeholders while upholding its longstanding reputation as a leader in Nigeria’s financial sector.
First Bank reiterated its focus on delivering reliable and trustworthy banking services, dismissing the report as misleading and lacking merit.
