The Olympics are coming to a close but many top athletes who've attracted huge social media followings may have potential far off the ice or slopes and well after the games end. Gregory Galant is the Co-creator of The Shorty Awards and the CEO of MuckRack and joins Cheddar to explain the role of social media in this year's Olympics.
Galant explains that athletes have always been sponsored by brands, but now they have their own platforms to pursue deals. Instagram feeds and Twitter provide great platforms for fan engagement and brand engagement.
In terms of reacting to surprise Gold winners and viral Olympic moments, Galant says brands have learned to move a lot faster. Brands have real-time advertising teams that can jump on opportunities as they arise.
Nestlé has dismissed its CEO Laurent Freixe after an investigation into an undisclosed relationship with a direct subordinate. The company announced on Monday that the dismissal was effective immediately. An investigation found that Freixe violated Nestlé’s code of conduct. He had been CEO for a year. Philipp Navratil, a longtime Nestlé executive, will replace him. Chairman Paul Bulcke stated that the decision was necessary to uphold the company’s values and governance. Navratil began his career with Nestlé in 2001 and has held various roles, including CEO of Nestlé's Nespresso division since 2024.
Kraft Heinz is splitting into two companies a decade after they joined in a massive merger that created one of the biggest food companies on the planet. One of the companies will include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese. The other will include brands like Oscar Mayer, Kraft Singles and Lunchables. When the company formed in 2015 it wanted to capitalize on its massive scale, but shifting tastes complicated those plans, with households seeking to introduce healthier options at the table. Kraft Heinz's net revenue has fallen every year since 2020.
About 780,000 pressure washers sold at retailers like Home Depot are being recalled across the U.S. and Canada, due to a projectile hazard that has resulted in fractures and other injuries among some consumers.
President Donald Trump has fired one of two Democratic members of the U.S. Surface Transportation Board to break a 2-2 tie ahead of the board considering the largest railroad merger ever proposed.
