(FT) Coke and McDonald’s call on Sepp Blatter to quit

Coca-Cola, McDonald’s and Budweiser, three of the largest World Cup sponsors, are demanding that Sepp Blatter step down immediately from his presidency of Fifa, a week after he personally became the subject of a criminal investigation into a corruption scandal that has engulfed the organisation.

Visa, another important sponsor, also joined the call for Mr Blatter to fall on his sword. But the defiant head of Fifa pushed back in a statement through his lawyer, refusing to heed the companies whose deals with Fifa contributed to more than $1.6bn in sponsorship revenue for the body between 2011-14, according to consultancy IEG.

The demands from Coke, McDonald’s and Budweiser’s owner Anheuser-Busch InBev are the strongest yet. All three have urged Fifa to make swift progress in cleaning itself up but to date they had not called outright for Mr Blatter’s resignation.

Read it all.

print

Posted in * Culture-Watch, * Economics, Politics, Consumer/consumer spending, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Globalization, Sports, Theology