I think this is a classic example of “Bootleggers and Baptists.” Of course the CEO wants the food stamp program to continue and grow, it’s a massive gift to his bottom line.
Kraft CEO Comes Out Against Cuts To U.S. Food Stamp Program: Kraft isn’t going give up its slice of the food stamp pie without a fight.
Tony Vernon, the incoming CEO at the world’s third largest food and beverage company, has come out against cutbacks to America’s $75 billion food stamp program, The Financial Times reported Sunday.
In this case, food stamps are vital to Kraft’s bottom line. Food stamp purchases make up at least one-sixth of Kraft’s revenue and an even larger share of the company’s total sales, Vernon said in the FT article.