NEW YORK (CNN/Money) -
Coca-Cola Co. CEO Neville Isdell says it will take up to two years to see the company's fortunes turn around, according to a published report.
The new CEO of the world's largest soft drink manufacturer made the comments to the Financial Times. He also told the newspaper he remains focused on carbonated beverages leading the turnaround at Coke, rather than putting more emphasis on products like bottled water or energy drinks.
Coke warned Sept. 15 that it would miss earnings forecasts for the second half of this year, with Isdell admitting to analysts that the company's pricing policy had cut into demand for its products. He told the FT that he's not concerned with the criticism he expects to hear during the turnaround efforts.
"There will be a period in the middle where people will say it's not happening quick enough," Isdell told the newspaper. "But I'm comfortable with that; I'm here for the long term."
Isdell expressed doubts about pinning the company's turnaround on products such as bottled water and energy or sports drinks. He said he passed up an opportunity to buy privately-held Red Bull energy drink in the late 1980s. Coke does have products in those categories, including Dasani water and Powerade sports drink.
"The consumer has not rejected carbonation in terms of adding sparkle to the product, and they have not changed their desire to have some sweetness on the tongue, even if there are queries about the number of calories they want to take in," he said. "I don't think water is the answer because I think you get palate fatigue with water over a period of time."
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