PepsiCo Inc (PEP.N: Quote, Profile, Research) expects its business, based on "comfort foods", to be resilient to a U.S. economic slowdown, Chief Executive Indra Nooyi said on Wednesday.
"In many ways we are countercyclical and it helps us either way, whether the market is up or down,"she told Reuters at the annual meeting of the World Economic Forum in Davos. "Roughly speaking, I'd say the current market turmoil doesn't really affect PepsiCo in a significant way."
Nooyi said rising commodity prices were a challenge for the the maker of Pepsi Cola, Lay's potato chips and Quaker oatmeal, but the group had the levers to overcome the challenge.
