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'Commitment to Major Tournaments Not Affected' - Coca-Cola CFO Unfazed by Cristiano Ronaldo's Snub

Arjun Singh Devgan
Portugal Training Session and Press Conference - UEFA Euro 2020: Group F
Portugal Training Session and Press Conference - UEFA Euro 2020: Group F / Alex Livesey - UEFA/Getty Images

Coca-Cola's Chief Financial Officer John Murphy has opened up on footballing superstar, Cristiano Ronaldo's snub of the product during a press conference at the 2020 European Championship, which created headlines.

Ronaldo who is known for his intense dedication to fitness and diet snubbed Coca-Cola and held a bottle of water and saying "agua", Portuguese and Spanish for water. His action sent the internet into a frenzy and briefly wiped off billions of dollars from the company's market capitalization.

Murphy for his part does not believe that such an action by the five-time Ballon d'Or award winner has affected the brand "globally".

"You have to take the long view on these partnerships. You're always going to have some events that don't necessarily go your way and we just deal with them and manage them as such. Our commitment to these major tournaments has not been affected."

Coca-Cola or Coke as it is popularly known is one of the most popular carbonated drinks in the world, accumulating billions of dollars in profit on a yearly basis. The soda maker raised its full-year sales and profit forecasts on Wednesday, as demand bounces back from pandemic lows for its beverages following the re-opening of theaters, restaurants and stadiums.

Ronaldo's actions during the Euro 2020 became a talking point across the world, though it looks like it has not affected the company in the long haul.