WEBVTT - Businessweek Extra - Sustainability Through Sports

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<v Speaker 1>This is Bloomberg Business Week from Bloomberg Radio. I'm Jason

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<v Speaker 1>Kelly and I'm Carol Masser. Welcome to the Bloomberg Business

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<v Speaker 1>Week Extra. It's our weekly podcast bringing you an in

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<v Speaker 1>depth interview you will not hear anywhere else. And this

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<v Speaker 1>week it's all about my panel at the Power Players

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<v Speaker 1>Summit in Miami. This was just ahead of the Super Bowl.

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<v Speaker 1>It was called Tackling Sustainability through Sports, and we looked

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<v Speaker 1>at different communities, different individuals. Al Guido, president of the

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<v Speaker 1>San Francisco forty Niners. Cynthia Marshall, the CEO of Dallas

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<v Speaker 1>Mavericks and kirktown Are the CEO of PepsiCo Beverages North America.

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<v Speaker 1>They came at sustainability from different perspectives. It ended up

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<v Speaker 1>being just a really rich and smart conversation. Let's start

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<v Speaker 1>with you, all right, San Francisco. You have this amazing stadium.

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<v Speaker 1>I mean you even have a dashboard I believe when

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<v Speaker 1>you go there where fans can check out how green

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<v Speaker 1>you are. Tell us about this stadium. Why you guys

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<v Speaker 1>did it well? I think, first of all, thanks for

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<v Speaker 1>having me here. It's an exciting weekend for us. Oh

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<v Speaker 1>wait a minute, I did this to him on the

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<v Speaker 1>planning called like, all right, what are we gonna talk about?

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<v Speaker 1>Oh yeah, and congratulations on being in the big game,

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<v Speaker 1>that that game on Sunday. Yes, are you relaxed? I'm

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<v Speaker 1>it's I'm a little getting a little anxious as the

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<v Speaker 1>day's going. Nowadays are a little long, but it's been

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<v Speaker 1>a fun week so far. Who do you think is

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<v Speaker 1>gonna win? I'm just kidding, I'm just kidding. Um. Look,

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<v Speaker 1>I think for us being in the Bay Area, it's

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<v Speaker 1>sort of it was a staple that we wanted to

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<v Speaker 1>be green, we wanted to be sustainable. It came down

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<v Speaker 1>it was an edict from our ownership group, Jed York.

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<v Speaker 1>We wanted to be the first stadium that was ever

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<v Speaker 1>built lead gold. There's been a number of stadiums that

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<v Speaker 1>have opened and then became lead gold, but it was

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<v Speaker 1>important for us to do so, and a lot of

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<v Speaker 1>things went into it. Some of it is the location

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<v Speaker 1>in the stadium and where where we picked it. Obviously,

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<v Speaker 1>all of us in the sports business have this challenge

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<v Speaker 1>of have seventy people come down to a stadium, So

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<v Speaker 1>how do you actually do that? How do you reduce

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<v Speaker 1>the carbon footprint? The number of cars. Well, build a

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<v Speaker 1>stadium next to two forms of public transit, get fifteen

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<v Speaker 1>to eight percent of your people using those publican forms

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<v Speaker 1>of transit on game day. It's very fair. It was

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<v Speaker 1>great for us. The second we really wanted to be

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<v Speaker 1>you know, it was ambitious, but we wanted our game

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<v Speaker 1>days to be powered by the sun. So we partner

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<v Speaker 1>with NRG and sun Power. We have over eighteen hundred

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<v Speaker 1>fold of voltaic panels in our building. We use that

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<v Speaker 1>stored energy and we literally power Sunday via the sun,

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<v Speaker 1>and then there's a number of other things in the

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<v Speaker 1>recycled water. On top of our stadium. We actually have

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<v Speaker 1>a twenty thousand square foot green roof where we actually

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<v Speaker 1>use those products. Um inside of our concession stands from

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<v Speaker 1>our cooking perspective, but at the very highest levels, I

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<v Speaker 1>would say it starts with ownership. It starts with leadership.

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<v Speaker 1>It was important for our organization to really put a

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<v Speaker 1>flat in the ground and make this an important thing

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<v Speaker 1>for us, and I think a lot of the other

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<v Speaker 1>stadiums that that came on board after us followed sit there.

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<v Speaker 1>I want you to come into it because speaking of sustainability,

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<v Speaker 1>you were brought into a situation of the Dallas Mavericks

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<v Speaker 1>that wasn't sustainable. So talk to us. First of all,

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<v Speaker 1>I think everybody's probably heard the story. Mark Cuban, I

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<v Speaker 1>think calls you, right and you're like, who is this?

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<v Speaker 1>I didn't know him. You didn't know who he was,

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<v Speaker 1>all right, not me either, So it's okay. But you're

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<v Speaker 1>a smart lady, and you get up to speed and

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<v Speaker 1>you find out and you go to meet with him,

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<v Speaker 1>but you don't think you're going to take the job

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<v Speaker 1>to work with the Dallas Mavericks. Tell us a little

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<v Speaker 1>bit about what was going through your head and what

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<v Speaker 1>you knew of the problem. Right, Well, first of all,

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<v Speaker 1>I had just retired from a T n T. Your retirement, right,

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<v Speaker 1>So I just retired started consulting company and it was

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<v Speaker 1>a consulting company focused on leadership development, diversity and inclusion,

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<v Speaker 1>cultural transformation. And so that I get this call and

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<v Speaker 1>I want to talk to him, And on my way

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<v Speaker 1>over to us off this, I read the Sports Illustrated

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<v Speaker 1>story and that's when I thought, I don't know if

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<v Speaker 1>I want to do this. I don't I don't know

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<v Speaker 1>if I'm gonna want to be a part of this.

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<v Speaker 1>But obviously. The person who I talked to was so

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<v Speaker 1>focused on a culture transformation, and Mark says, I need

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<v Speaker 1>you to come in. We have some issues here. I

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<v Speaker 1>need you to come in and help us. And as

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<v Speaker 1>I was leaving his office, two women stopped me to

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<v Speaker 1>tell me their stories. I came back the next day

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<v Speaker 1>and said, I gotta do this. I just have to

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<v Speaker 1>do this, because what I have learned is it takes leadership,

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<v Speaker 1>and you talked about that and the tone has to

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<v Speaker 1>be said at the top. So here's an opportunity to

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<v Speaker 1>come in be a part of something truly that would

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<v Speaker 1>be sustainable, to create a culture and a climate of

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<v Speaker 1>diversity and inclusion. Not just diversity because there's a difference,

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<v Speaker 1>but true inclusion, a sense of belonging. Are really having

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<v Speaker 1>people wanting to be a part of it, really appreciating people.

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<v Speaker 1>And so I got a chance to do it. I

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<v Speaker 1>said yes. And it's been twenty three months and the

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<v Speaker 1>NBA just gave us the Inclusion Leadership Award for the progress.

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<v Speaker 1>The work is not done, but we've made a lot

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<v Speaker 1>of progress. That's like congratulations. And I have to say

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<v Speaker 1>I've been quoting you because you say there's diversity and

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<v Speaker 1>Inclusion diversity being asked to the party. Being invited to

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<v Speaker 1>the party. Inclusion is being asked to dance. So you

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<v Speaker 1>can invite me to the party and have me ask

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<v Speaker 1>the only black at the table, the only woman at

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<v Speaker 1>the table, and your numbers look good and I look good,

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<v Speaker 1>and we think we've done something great. But then I

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<v Speaker 1>don't feel included because you haven't taught me the rules.

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<v Speaker 1>You haven't taught me the dance steps. Everybody's doing something,

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<v Speaker 1>all the fellas are doing it, but I don't know

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<v Speaker 1>what you're doing. And so inclusion is about teaching me

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<v Speaker 1>those moves and making sure that I can be successful

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<v Speaker 1>at that table. And I want to get let's go.

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<v Speaker 1>I would love that comes on in on this because,

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<v Speaker 1>as you you know, in our prepping for call, you

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<v Speaker 1>reminded us Indra Nuie talked about performance with purpose. She

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<v Speaker 1>did that back and I think two thousand six, and

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<v Speaker 1>I feel like now everybody talks about people profit planet right,

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<v Speaker 1>It's become very common. When she did it, I think

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<v Speaker 1>people were like, well, what are you talking about? This

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<v Speaker 1>has been income you go to you go to the

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<v Speaker 1>PepsiCo website, It's ingrained in your culture. Talk to us

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<v Speaker 1>about sustainability at PepsiCo, and I mean it goes all

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<v Speaker 1>the way up absolutely. Um injur started with performance with

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<v Speaker 1>purpose and we've built on that with winning with purpose.

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<v Speaker 1>And I would say sustainability is center plate. It's as

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<v Speaker 1>bording as profit, revenue, share volume. Sustainability is right a

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<v Speaker 1>part of it. We talk about our business and faster, stronger,

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<v Speaker 1>and better and under better. We are attacking the sustainability opportunity.

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<v Speaker 1>Of course, plastics is a big opportunity for us. We

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<v Speaker 1>are working incredibly hard. We're leveraging our partnerships with the

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<v Speaker 1>NFL and the NBA to drive awareness education because we

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<v Speaker 1>do believe every plastic bottle can come back as another

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<v Speaker 1>plastic bottle if it's recycled, and that's our mission. Our

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<v Speaker 1>mission is really to reduce our recycler virgin plastic, to recycle,

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<v Speaker 1>inspire consumers to recycle. And then the third one is

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<v Speaker 1>to reinvent, and that's things like our soda stream acquisition

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<v Speaker 1>is things that are outside the bottle. So we think

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<v Speaker 1>we can. We have to win across all those platforms well.

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<v Speaker 1>And I do think about we asked this that the

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<v Speaker 1>athletes who are on stage about their responsibility about you know,

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<v Speaker 1>having incredible platforms and to be you know, social agents

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<v Speaker 1>have change. And I do wonder how you folks see, Cynthia,

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<v Speaker 1>I want to go back to you for a moment.

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<v Speaker 1>I mean, the Me Too movement certainly got it all

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<v Speaker 1>out front and center. Tell me about the culture though,

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<v Speaker 1>that you walked into at the Mavericks, because from what

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<v Speaker 1>I understand, I think you said to me, people were saying, Hey,

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<v Speaker 1>don't worry, don't worry about her. It's just gonna be

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<v Speaker 1>god a ninety day. It's just about optics. That's a

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<v Speaker 1>culture that's tough to change, all right. That's a culture

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<v Speaker 1>that says we don't want to change. It's been like

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<v Speaker 1>this for twenty years. Uh. It's a place that, uh

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<v Speaker 1>is not as friendly to women that you know, like

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<v Speaker 1>you wanted to be. And so change is difficult. But

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<v Speaker 1>I got a mandate. Mark Cuban gave me a mandate

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<v Speaker 1>to change the culture. He was serious about it. He

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<v Speaker 1>wanted a different culture. And we brought in a leadership team.

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<v Speaker 1>And our team now is fifty women. Our leadership team

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<v Speaker 1>from zero women and percent people of color. So we

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<v Speaker 1>have a diverse leadership team around the table and we're

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<v Speaker 1>all on the same page. We put a set of

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<v Speaker 1>values in place, the spells, crafts, character, respect, authenticity, fairness, teamwork,

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<v Speaker 1>and safety, both physical and emotional safety. And what I

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<v Speaker 1>told the team is that these wouldn't just be on

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<v Speaker 1>the walls, these words, but they would operate in the halls.

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<v Speaker 1>Everything we do, every decision we make, every higher we make,

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<v Speaker 1>everything will be about the set of values and this culture.

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<v Speaker 1>And I got all the backing in the world from Mark,

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<v Speaker 1>and we're doing it. We're doing it well. And I'll

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<v Speaker 1>come on in on it because I do think you know,

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<v Speaker 1>it's got to start from the top. I mean there's

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<v Speaker 1>you can greenwash something and say hey, yeah, we should

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<v Speaker 1>be doing this, and then there's actually doing it. I mean,

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<v Speaker 1>you guys, when you set out doing a stadium, was

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<v Speaker 1>there any pushback? I mean, you're in San Francisco, so

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<v Speaker 1>I feel like that's an environment where if you're gonna

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<v Speaker 1>do a stadium like you did, it's perfect. But tell

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<v Speaker 1>me about ten years ago when you started talking about it,

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<v Speaker 1>We're some people like, oh, we really need to do that.

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<v Speaker 1>On the stadium front, yeah, I mean in California that

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<v Speaker 1>we were the first new stadium built in fifty years,

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<v Speaker 1>so not an easy place to get things done sometimes. Um,

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<v Speaker 1>but I think from our perspective, it's a privately financed building,

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<v Speaker 1>which was important to the ownership group, right. We wanted

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<v Speaker 1>to get back into the community. And I think this

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<v Speaker 1>topic is fantastic in the current world we're in in sports,

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<v Speaker 1>and what this lady has done down there, I don't

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<v Speaker 1>it's it can't be. It's understated up here. Frankly, it's

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<v Speaker 1>a complete turnaround and we're really proud from our organization.

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<v Speaker 1>The two teams playing the Super Bowl this weekend are

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<v Speaker 1>run by females. Denista Barnalow York all right, again, the

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<v Speaker 1>two teams playing in the Super Bowl are owned and

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<v Speaker 1>run by females who talk about, yeah, we're We're unbelievably proud.

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<v Speaker 1>We have the first female coach coaching in the game

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<v Speaker 1>on Sunday with Katie Sours. We have three minority coordinators

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<v Speaker 1>that work for the San Francisco forty Niners. Our front

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<v Speaker 1>office is highly diverse and so it is unbelievably important.

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<v Speaker 1>You know, our goal this weekend is obviously to win

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<v Speaker 1>a Super Bowl. We talk about our why. Our why

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<v Speaker 1>is to go a step further for someone so they

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<v Speaker 1>feel part of our family, and that reverberates around every decision.

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<v Speaker 1>It is the lens in which we look through when

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<v Speaker 1>we make hiring decisions, when we make business decisions, whether

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<v Speaker 1>it's on the field or off the field. And I'm

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<v Speaker 1>so proud of it's not just about what these guys

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<v Speaker 1>do or what these people do on Thursdays and Sundays

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<v Speaker 1>and Mondays. It is about what they do in the

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<v Speaker 1>community after fact. And I think the greatest thing about

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<v Speaker 1>the today's current athlete is they They're more than what

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<v Speaker 1>they portray on the court or the ice or the field,

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<v Speaker 1>and things matter to them and when you ask them

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<v Speaker 1>to get involved in something, it has to be a

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<v Speaker 1>passion project for them for it to really matter. But

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<v Speaker 1>when it is, the difference it makes in our communities

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<v Speaker 1>and across the globe, I mean, it's staggering. And so

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<v Speaker 1>we have a tremendous group of individuals inside of our

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<v Speaker 1>our team. We have a great group of players that

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<v Speaker 1>are really outspoken on a lot of these topics, and frankly,

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<v Speaker 1>we encourage it. We think this debate is healthy and

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<v Speaker 1>uh where it's it's nice to be on a platform

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<v Speaker 1>like the Super Bowl to be talking not just about

0:12:16.080 --> 0:12:18.959
<v Speaker 1>the game itself, but all of these other tremendous or

0:12:19.080 --> 0:12:22.280
<v Speaker 1>important issues. Well, Kirk, come on in on this, because

0:12:22.400 --> 0:12:24.160
<v Speaker 1>all right, I think a PepsiCo one of the great

0:12:24.200 --> 0:12:26.280
<v Speaker 1>global brands that are out there, and you do have

0:12:26.559 --> 0:12:29.160
<v Speaker 1>a partnership with the NFL, you partner with a lot

0:12:29.240 --> 0:12:32.520
<v Speaker 1>of different sports franchises. We are, I think in a

0:12:32.679 --> 0:12:37.920
<v Speaker 1>very critical juncture where these athletes, team owners, leagues can

0:12:37.960 --> 0:12:40.360
<v Speaker 1>really help push the needle in some really important issues.

0:12:40.760 --> 0:12:42.520
<v Speaker 1>What do you think about that in terms of a

0:12:42.600 --> 0:12:46.719
<v Speaker 1>corporate perspective when you're thinking about sponsorships. Yeah, I think

0:12:46.760 --> 0:12:50.360
<v Speaker 1>it's critical and I think in today's world, you want

0:12:50.400 --> 0:12:53.400
<v Speaker 1>to surround yourself with partners that have this high performance

0:12:53.480 --> 0:12:58.240
<v Speaker 1>mentality and all high performance only comes from diversity and inclusion,

0:12:59.080 --> 0:13:02.319
<v Speaker 1>and I think this vision of purpose, So it's it's

0:13:02.400 --> 0:13:04.839
<v Speaker 1>much more we talked about it before. It isn't just

0:13:04.960 --> 0:13:07.599
<v Speaker 1>about the bottom line or the top line. It is

0:13:07.640 --> 0:13:11.160
<v Speaker 1>about the longevity of the partnerships you want to create,

0:13:11.200 --> 0:13:14.040
<v Speaker 1>and that comes down to sustainability and having a high

0:13:14.080 --> 0:13:17.880
<v Speaker 1>performance culture. That's that's who you surround yourself with. I

0:13:17.920 --> 0:13:20.439
<v Speaker 1>think PepsiCo does a really good job surrounding themselves with

0:13:20.600 --> 0:13:23.880
<v Speaker 1>partners that have the same passion to do things the

0:13:24.040 --> 0:13:26.400
<v Speaker 1>right way. I think that's really important to us. Well,

0:13:26.480 --> 0:13:28.079
<v Speaker 1>it's interesting. I know at PepsiCo and I want to

0:13:28.120 --> 0:13:30.640
<v Speaker 1>bring you into the end, but you guys, it's I

0:13:30.720 --> 0:13:32.439
<v Speaker 1>think about you go back a few years and it

0:13:32.520 --> 0:13:34.839
<v Speaker 1>was like if you created a sustainability office, it was

0:13:34.880 --> 0:13:36.679
<v Speaker 1>in the back room, and I don't know what those

0:13:36.720 --> 0:13:39.000
<v Speaker 1>guys are doing. They're getting paper cups, you can recycle.

0:13:39.360 --> 0:13:41.640
<v Speaker 1>It's not that way anymore. And it's not that way

0:13:41.640 --> 0:13:44.280
<v Speaker 1>I know a PepsiCo right, the CEO is involved, C

0:13:44.440 --> 0:13:49.000
<v Speaker 1>suites involved. Absolutely. We have a senior leader in Simon Loudon,

0:13:49.120 --> 0:13:52.880
<v Speaker 1>one of our top executives these over sustainability. Uh, it's

0:13:52.920 --> 0:13:55.880
<v Speaker 1>a part of our KPI. So we have our performance

0:13:55.920 --> 0:13:59.280
<v Speaker 1>metrics every year across from top down and we have

0:13:59.520 --> 0:14:02.760
<v Speaker 1>specific thick goals against this that are as important as

0:14:02.800 --> 0:14:06.280
<v Speaker 1>our financial performance. It is top to bottom or bottom

0:14:06.320 --> 0:14:09.280
<v Speaker 1>to top. Everybody in the organization believes in it. I'll

0:14:09.320 --> 0:14:12.040
<v Speaker 1>say one more thing. If you want to attract talent

0:14:12.440 --> 0:14:16.319
<v Speaker 1>into your organization, so if you're attracting that person graduating

0:14:16.400 --> 0:14:20.040
<v Speaker 1>from college and you don't have a sustainability agenda, and

0:14:20.120 --> 0:14:22.920
<v Speaker 1>are passionate about it and make it real. They won't

0:14:22.960 --> 0:14:25.520
<v Speaker 1>come to work for you. Is that safer, plain and simple.

0:14:25.640 --> 0:14:28.960
<v Speaker 1>They'll find someplace that will, you know, meet that need.

0:14:29.160 --> 0:14:32.680
<v Speaker 1>And it's focused on sustainability. And I just want to

0:14:32.760 --> 0:14:34.960
<v Speaker 1>jump in and say that's one thing that I truly

0:14:35.040 --> 0:14:38.920
<v Speaker 1>love about our players. We start our preseason with a

0:14:39.080 --> 0:14:41.960
<v Speaker 1>day of service. We figured we can serve. We can

0:14:42.000 --> 0:14:44.440
<v Speaker 1>start by serving each other, then we can serve our fans,

0:14:44.960 --> 0:14:46.720
<v Speaker 1>we can serve others, and we go out into the

0:14:46.800 --> 0:14:50.840
<v Speaker 1>community and they are so passionate about it. And even

0:14:50.880 --> 0:14:52.880
<v Speaker 1>when something happens, like when you look at what jj

0:14:53.040 --> 0:14:56.680
<v Speaker 1>Barea did when we had the crisis in Puerto Rico,

0:14:57.280 --> 0:15:00.720
<v Speaker 1>they step up immediately. When we get new players, the

0:15:00.760 --> 0:15:02.360
<v Speaker 1>first thing they want to know about is what are

0:15:02.360 --> 0:15:04.720
<v Speaker 1>you doing in the community or what are you focused on?

0:15:04.840 --> 0:15:07.160
<v Speaker 1>Here's our personal passion. Can you help us with that?

0:15:07.720 --> 0:15:10.520
<v Speaker 1>So they are champions on and off the court. We

0:15:10.640 --> 0:15:13.640
<v Speaker 1>put together a community impact report last year and we

0:15:13.840 --> 0:15:17.400
<v Speaker 1>use the NBA's tagline, this is why we play because

0:15:17.560 --> 0:15:19.920
<v Speaker 1>they will tell you, The players will tell you in

0:15:19.960 --> 0:15:22.680
<v Speaker 1>our leadership will all tell you, Yes, we play for

0:15:22.800 --> 0:15:24.680
<v Speaker 1>the fans, and we play for what's on the court,

0:15:25.120 --> 0:15:27.040
<v Speaker 1>but we play a lot for what's off the court,

0:15:27.240 --> 0:15:29.800
<v Speaker 1>what truly is happening in the community. And to your point,

0:15:30.120 --> 0:15:32.400
<v Speaker 1>when we get new employees, they want to know what

0:15:32.520 --> 0:15:35.680
<v Speaker 1>are we truly about that is happening in the community.

0:15:35.760 --> 0:15:38.160
<v Speaker 1>What are the passion points? What kind of issues will

0:15:38.200 --> 0:15:40.760
<v Speaker 1>we take a stand on. That's how you attract talent,

0:15:40.880 --> 0:15:43.080
<v Speaker 1>That's how you attract good players, That's how you keep them.

0:15:43.920 --> 0:15:47.440
<v Speaker 1>Are we doing enough though? Because we think about diversity, right,

0:15:47.760 --> 0:15:52.440
<v Speaker 1>you don't even have to finish. No, no, there is

0:15:52.640 --> 0:15:56.280
<v Speaker 1>more to do. There's clearly more to do. You can

0:15:56.360 --> 0:15:58.840
<v Speaker 1>look around this room. There is more to do. So

0:15:59.040 --> 0:16:01.040
<v Speaker 1>all right, So I want to get to you guys,

0:16:01.080 --> 0:16:02.880
<v Speaker 1>So what more can we do? Having you have to

0:16:02.920 --> 0:16:06.160
<v Speaker 1>make some drastic changes? At the mast of all, I

0:16:06.240 --> 0:16:11.000
<v Speaker 1>think we have to really understand and appreciate and digest

0:16:11.120 --> 0:16:14.640
<v Speaker 1>the business case for diversity and inclusion. And you gave it.

0:16:15.280 --> 0:16:17.760
<v Speaker 1>I mean, there's a financial impact to have you a

0:16:17.840 --> 0:16:22.560
<v Speaker 1>diverse group of people that are included two and since no, no, no, hallelujah.

0:16:22.640 --> 0:16:25.160
<v Speaker 1>But I've been we've been talking about those studies right

0:16:25.400 --> 0:16:28.040
<v Speaker 1>for how long? In terms of diversity, the importance of

0:16:28.080 --> 0:16:31.520
<v Speaker 1>a diverse board or diverse executive suite. How important is

0:16:31.640 --> 0:16:34.560
<v Speaker 1>to financial performance if you have to do it though? Okay,

0:16:34.640 --> 0:16:36.480
<v Speaker 1>but you have to do it. We turned around our

0:16:36.560 --> 0:16:38.880
<v Speaker 1>leadership team in the makeup of it in ninety days.

0:16:39.480 --> 0:16:41.800
<v Speaker 1>Talking is one thing, but you you don't just talk

0:16:41.840 --> 0:16:43.920
<v Speaker 1>about it. You have to be about it and you

0:16:44.040 --> 0:16:46.560
<v Speaker 1>have to make it happen if you want to change, Kirk,

0:16:46.640 --> 0:16:48.440
<v Speaker 1>what do you think about that? Yeah? I agree. I

0:16:48.520 --> 0:16:51.880
<v Speaker 1>think actions speak louder than words UM, and I think

0:16:51.960 --> 0:16:55.880
<v Speaker 1>that for a company like PepsiCo, we're serving the community,

0:16:55.960 --> 0:16:59.400
<v Speaker 1>We're trying to engage consumers, We're trying to win consumers

0:16:59.480 --> 0:17:02.720
<v Speaker 1>over and if you don't reflect the consumers that you're

0:17:02.760 --> 0:17:06.159
<v Speaker 1>trying to serve, you have no chance. So if you

0:17:06.200 --> 0:17:09.040
<v Speaker 1>don't have the diversity and inclusion, you won't create the

0:17:09.200 --> 0:17:12.800
<v Speaker 1>right brands, you won't develop the right products, and you

0:17:12.840 --> 0:17:15.879
<v Speaker 1>won't be able to talk to consumers. So it's this

0:17:16.040 --> 0:17:20.560
<v Speaker 1>full circle that returns. And I believe that diversity and

0:17:20.640 --> 0:17:25.359
<v Speaker 1>inclusion is a direct impact on financial performance. UM to

0:17:25.480 --> 0:17:28.800
<v Speaker 1>go faster, I think it's all about holding each other

0:17:28.880 --> 0:17:32.639
<v Speaker 1>accountable for it UM and keep raising the bar so

0:17:32.760 --> 0:17:36.080
<v Speaker 1>we'll make an achievement. But you have to keep raising

0:17:36.119 --> 0:17:38.600
<v Speaker 1>the bar because it's a journey. We're not there and

0:17:38.640 --> 0:17:40.399
<v Speaker 1>there's a long way to go, but I think you

0:17:41.040 --> 0:17:45.240
<v Speaker 1>gotta keep you know, moving and pushing the target forward.

0:17:47.640 --> 0:17:51.200
<v Speaker 1>The answer is no, um, But I'd say in our

0:17:51.359 --> 0:17:53.560
<v Speaker 1>world in sports entertainment, I would say it's gotten a

0:17:53.600 --> 0:17:57.080
<v Speaker 1>lot better. Um, But we're not where we need to

0:17:57.119 --> 0:18:01.520
<v Speaker 1>be yet. This fast hiring season in the NFL, you

0:18:01.600 --> 0:18:04.080
<v Speaker 1>know did not uh, you know, we did not wind

0:18:04.160 --> 0:18:06.639
<v Speaker 1>up with the minority head coach outside of Ron Rivera

0:18:06.720 --> 0:18:09.720
<v Speaker 1>that got hired with the Washington Redskins. And so I

0:18:09.800 --> 0:18:12.720
<v Speaker 1>think what Art Rooney did years ago in the NFL.

0:18:12.920 --> 0:18:15.399
<v Speaker 1>And I was at uh function the other night, the

0:18:15.480 --> 0:18:19.439
<v Speaker 1>French Polity Alliance where Promurate who works for us, won

0:18:19.480 --> 0:18:24.200
<v Speaker 1>an award. We need at the NFL and across our

0:18:24.359 --> 0:18:27.480
<v Speaker 1>entities on certainly on the business side, we need to

0:18:27.560 --> 0:18:31.280
<v Speaker 1>put in place policies that lead to change. Right if

0:18:31.320 --> 0:18:34.240
<v Speaker 1>we continue to just say, hey, you know, bring a

0:18:34.280 --> 0:18:37.840
<v Speaker 1>diverse state of candidates, but let that same hiring manager higher,

0:18:38.440 --> 0:18:41.600
<v Speaker 1>there's gonna be human bias in that. And so at

0:18:41.600 --> 0:18:44.000
<v Speaker 1>the San Francisco forty nine is what we've done, is

0:18:44.560 --> 0:18:48.440
<v Speaker 1>we've instituted the Rooney rule across our entire organization, because

0:18:48.480 --> 0:18:50.640
<v Speaker 1>what we said is why should it just be coaches,

0:18:51.119 --> 0:18:53.800
<v Speaker 1>Why shouldn't it be executives as well? And we need

0:18:53.880 --> 0:18:57.560
<v Speaker 1>a diverse candidate for every open position. Every position we have,

0:18:58.200 --> 0:19:00.840
<v Speaker 1>we post and everything whole time we bring in a

0:19:00.920 --> 0:19:05.480
<v Speaker 1>diverse slate of candidates, and we interview across business verticals.

0:19:05.800 --> 0:19:08.480
<v Speaker 1>So even if that person is interviewing for a job

0:19:08.560 --> 0:19:10.840
<v Speaker 1>on the G and A side, folks in the sales

0:19:10.920 --> 0:19:13.680
<v Speaker 1>and marketing department will make sure they interview and then

0:19:13.720 --> 0:19:16.240
<v Speaker 1>we'll grade that person on a scale across five or

0:19:16.280 --> 0:19:18.880
<v Speaker 1>six or seven people, because we think it's the best

0:19:19.000 --> 0:19:22.200
<v Speaker 1>way to take an overall look at a candidate as

0:19:22.240 --> 0:19:25.119
<v Speaker 1>opposed to just letting the hiring manager dictate who are

0:19:25.240 --> 0:19:28.480
<v Speaker 1>who they may want to hire. And I think sometimes

0:19:28.520 --> 0:19:30.679
<v Speaker 1>that hiring manager they don't really know it until they

0:19:30.720 --> 0:19:35.480
<v Speaker 1>get outside perspective around what that person can mean to

0:19:35.640 --> 0:19:38.840
<v Speaker 1>their organization or their business line and how it may change.

0:19:38.880 --> 0:19:41.719
<v Speaker 1>And I think Kirk said it so well, it's how

0:19:41.800 --> 0:19:44.399
<v Speaker 1>you view yourself a little bit. If we were just

0:19:44.600 --> 0:19:47.840
<v Speaker 1>to view ourselves as an NFL football team, my answer

0:19:48.000 --> 0:19:51.200
<v Speaker 1>might be different. But we're an NFL football team, and

0:19:51.280 --> 0:19:54.400
<v Speaker 1>we're a sports entertainment property and where a fabric out

0:19:54.400 --> 0:19:59.160
<v Speaker 1>of our community, and we have fans across all different spectrums.

0:19:59.359 --> 0:20:01.640
<v Speaker 1>That was out president of the San Francisco forty nine,

0:20:01.720 --> 0:20:04.560
<v Speaker 1>or Cynthia Marshall, CEO of Dallas Mavericks, and Kirk Tanner,

0:20:04.640 --> 0:20:07.600
<v Speaker 1>the CEO of PepsiCo Beverages North America. And you've been

0:20:07.640 --> 0:20:10.400
<v Speaker 1>listening to Bloomberg Business Week Extra be sort of tune

0:20:10.400 --> 0:20:13.040
<v Speaker 1>into Bloomberg Business Week Radio Live Monday through Friday at

0:20:13.080 --> 0:20:16.119
<v Speaker 1>two pm Wall Street Time. I'm Bloomberg Radio. I'm Carol Masser,

0:20:16.240 --> 0:20:17.920
<v Speaker 1>and I'm Jason Kelly. This is Bloomberg