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That information, I'd like to turn the event over now to [inaudible].
The Farmer School of Business, Jenny derrick,.
[SPEAKER] Well, welcome to the fourth of VMs of our Executive Speaker Series.
I'm delighted that you could join us this evening.
As you know, I'm Jenny Derek and I'm the dean of the Farmer school.
The title of tonight's talk is a career in the [inaudible] industry, a conversation with Nina Krueger printers you see in prisons.
Before we get started, I would like to give you a brief state shot of Nina Lee's outstanding career.
First and foremost, neatly, Krueger's one of us.
She graduated with a BS in marketing in 1983 a prohibition on put the year in there.
Namely Krueger's currently Chief Executive Officer and President for Nestle Purina, Company in the United States.
Neither forget that Lee began her career at Purina in 1994 and went on to hold various positions of increasing responsibility within the company, working on TiVo brains and initiatives and has been instruments., I'm bringing innovation to the market.
And 2010 nearly voice prison of printed letter division.
And in 2015, namely was named chief marketing officer.
She and the role of president in 2016 and transition to the role of CEO and President of the Ie business and January 2020.
One, as I mentioned earlier, namely as a graduate of Miami University.
But in addition to that as an MBA from Washington University's Owen School of Business, which you she was into 1994, Nina Leigh lives and St.
Louis dog.
She has three sons.
And you're very involved in the community, serving on multiple boards and executive committees.
Various non-profit organizations, including the St.
Louis Children's Hospital.
So welcoming and it's so good to see you here again.
Thank you.
So tonight tonight we're going to run the event as a Q and a.
I'm going to leave the first portion for about 30 to 45 minutes after which we'll take questions from the audience.
We have a large audience or will be shortly, Plenty of time.
Address your questions.
So nearly the first question, the most important question is why did you choose my own university?
That is a great question.
So when I was looking for colleges, I was not even aware of Miami University existed.
I had been looking at like Kentucky and Georgia, Notre Dame tried to play tennis and then I was playing it.
And Leon Davin, who was the Tennis Coach of the time, scouted me and said, Hey, I really like you to come to Miami, just come visit the campus and I have to say from the moment I walked onto the campus, met the team that some of the professors at the time, I absolutely loved it, and the rest was history.
I didn't look at me where else I just applied there and that's why chosen.
That's an easy decision.
It's a beautiful campus, it really is not fall in love with.
So what did you like most about your time here at Miami?.
[STUDENT] So as you mentioned, it might have been a few years ago that I graduated.
But really I would say what I love most about Miami obviously, it had an outstanding education in the business school, the Farmer School of business what I would say that I remember most and loved the most were the friendships that I've made and still have to this day.
So playing tennis, I met and still have a lot of tennis friends from authority perspective, my TBI friends are watching tied.
I do believe my roommates from college and then also from the business school.
So I would say really that's that's one.
What I loved most where the friendships that I've made and kept throughout the years, looking for 33 would have changed while you're here at Miami.
[STUDENT] So it's funny you asked that question.
I was asked that question when I interviewed my senior year, by a bank and I have to say I told this answer to him as well.
Not really.
It was such a wonderful experience that.
I really couldn't find anything.
I will tell you.
I told him I didn't like to wait in line signing up for classes because back then you had to do that.
So that was probably the worst thing that I can say.
[SPEAKER] We're going to pass on that one.
So you've got a really interesting story and backgrounds.
And so I'd love to know your journey from when you graduated from Miami so now, President and CEO of Nestle Purina business, I'd love to hear this story, please.
So I graduated in 1983 and for those of you familiar with that time, the economy wasn't really that great.
So I interned at Humana the summer before and I went back and had an internship there.
They wanted to hire me full time, but they could.
And so after working multiple jobs, my cousin drove me to Washington, DC where I got a job in finance and while it was interesting and I like numbers, it really wasn't DC probably wasn't the place that I really wanted to live long term.
Had a bunch of friends in Chicago, so I chose.
To move to Chicago, kept working in the finance industry after a while, I realized that really my goal was to get back into brand management.
That's really what I wanted to do.
So I applied for MBA schools, got into Washington University and moved to St.
Louis while I was.
Wash U, I interned at Purina and after graduation, I I took the job and really never left.
And I've had such a wonderful experience here with many, many different roles throughout the year, so that years that I've been here.
[STUDENT] So what you enjoy most about your current role.
Well, I would say.
[SPEAKER] The thing.
Most is really the subject matter.
I loved pets.
So I have the ability to work in an area where have passion for.
The second, I would say in the real reason I changed for my internship to coming here full time was the culture the culture at Purina is absolutely incredible.
The environment is so collaborative and not competitive.
It's a family.
So St.
Louis is a small town, but there's people from all over the US and globally here.
And we're really guided by the foundation that our founders said years ago, which is really centered around being a good people, person, making really thoughtful decisions, taking pride in your work, and giving back.
North Star Karina is really doing the right thing for pets and people every single day, it's very simple.
We don't make any trade-offs in that area.
And then really on a day-to-day basis, I just loved the challenges of problem-solving and doing what I can to bring out the best in my team.
So many people myself included have gone and gotten in this case, a puppy for us to encode was where it, where it covered puppy family, made some due to alter that had to say whether the Bayesians class my husband told me.
So talk to me about how Covert has impacted on distri both good and bad.
[STUDENT] For sure.
So we got a puppy during covert too, so I can totally relate to that behavior challenge.
You're in good company.
A lot of people, adopted and fostered pet's during this time, which is really a great thing.
It's really helped people through this pandemic.
The human animal bond is such a powerful relationship and wonderful so that's been really good.
It's safe to say that COVID really is impacting every industry.
So pets no different than that.
Our business has remained strong thankfully and we saw more pet owners put their trust in Purina during this time, which has been very humbling, something that we certainly don't take for granted for Purina, specifically, the pandemic has had ebbs and flows of our consumer stocking up on our problem.
I know there's other consumer products that have had the exact same situation, so it's been really challenging for us at times.
The pet care industry though is remaining strong to this day and it's just, it's, a great industry to be [SPEAKER] Focusing a little bit on the issue of inventory.
Many stocking up and ask you some questions about the supply.
So how challenging hasn't been to maintain inventory during, during covid?.
[STUDENT] Very challenging.
The realities of covid have really had to really strong concerns for us here and its people and product in that order.
As most of you can remember, and I just mentioned a minute ago, there was such a frenzy to stock up on food and supplies that it had a huge impact.
And if you stand in front of the shelf and you picture a bag of dog food and you say, OK, there's eight ingredients and that dog food.
And a package.
The eight ingredients come from totally different places.
The package comes from a different place.
They all have to come on different forms of transport.
And every single one of those elements was impacted very coated, so it's really how do you orchestrate all of that coming together to get that product on the shelf.
And that journey for us really starts with each of our associates at our 21 factories being able to safely and confidently come to work, trusting us and each other and that can.
Be underestimated.
So our number one priority was really to create that safe environment for my PPE chore associates and take every precaution we needed to make sure that they have a safe environment.
We also brought in meals from local restaurants for each of our shift workers, which would help the local economies but also provide a place where the the workers could have a meal and have some sort of normalcy I will say [inaudible] on that day.
You can imagine how instrumental communication was with our teams.
That was a huge piece of it.
Our suppliers and our transportation and logistics team.
I'm just in awe still because these challenges still exist today of how we hold it together and how we continue to do that today.
And finally, but certainly not least, Nestle, who owns Purina, has been backing us up and supporting us this entire way and they continue to invest our business, which is extremely important.
[SPEAKER] Sydney t-shirt leadership has, during these times when you're trying to make.
Supply chain issues and inventory to customers, just a couple of questions ago, you talked a little bit about foster fostering animals.
And so one of the concerns I have that so many people I hear all have gone and fostered or adopters animals from showers and so forth.
Are you concerned that the COVID pits might end up back and shoulders?
We once were.
Back to normal.
[STUDENT] You know what that is?
A really great question.
It was great to see all these pet lovers adopt and foster.
And it's really been a rare opportunity for many households to bring home a new pet and be able to spend all that time with them.
I also think and we mentioned this before that that the love and the bond of the pets and the humans and helps him.
People cope with this uncertainty in the last year.
So those all have been wonderful positives, but one concern we do have is that will pets be relinquished and there could be for a couple reasons and I'll tell you what we're thinking about there.
So our behavior estar, afraid that many of these paths that had their family's home for almost a year are going to experience separation anxiety.
And so that's really big.
I mean, I know from our puppy that we've got during the pandemic as we start introducing more people to our household, she's not familiar with that and she barks and has lots of behavior issues that we have to really work on to make sure that we can overcome.
And then also a lot of families are struggling financially and been working with partners to really provide pet food pantries with foods so that no family has to decide to give up their loved so much because they can't, they can't afford to feed.
I think that sounds like the training of history's going to take off.
I think as people go back to work and still separation anxiety for appears.
A puppy and a federal marketer.
I've thought quite a lot about how we've been introduced to different pitfalls and how Outbrain choices of forms and whose influences brand choices.
So I'd be really interested to hear you talk about the customer journey for the, especially for first foods, for puppy or any peers, and how easy or.
It's difficult to get people to brand switch from one brand of foods and other.
[SPEAKER] That's a really great question because there certainly are a lot of choices out there if you go to the shelf, there's just a ton of choices that you have.
At Purina really our foundation is, nutrition.
And it's all about science and that's what the foundation of everything we do there.
So our first job or most important job is to make the first choice, but if we can't do that, the next choice.
So we work with shelters and responsible breeders across the country to provide foods to their pets.
And also a BAG OF food for the consumers that are adopting that so that the first bag, the pet owner has is a period of bag when they go home, they're new.
We also work very closely to educate that Marion's and about the science that goes into our products.
It's easy to see Shrina and think about a food or a bowl of food.
But when there's an enormous amount of science and expertise that goes into that we have more than 500 scientists vets and behaviorist who work here on staff.
So education is key.
And the more that we can do that with the veterinarians for them to understand is really important.
And ultimately, we have to make a compelling case to a pet owners on why peering is the best food choice we're lucky that we have a very broad portfolio of foods and each of our foods offer excellent nutrition.
So we invest in a lot of understanding.
Consumers and try to make those deep consumer connections we like to think of ourselves as being consumer obsessed.
So I'm gonna say with a total of buying food for [inaudible] and ask you questions about an assistant DA.
So I'm asking this question because we recently bought some peanut butter for our dog and it was just purely.
In a jar.
That's all it was.
And yet the price was about three times what we would pay for normal peanut butter.
So this was my observation of demands with peanut butter or pit for a fair and accurate observation?.
[SPEAKER] Yes, it is the pet category is about a $100 billion industry that continues to grow.
Grow, and pet owners are invested in their pets as much as they are their family members.
And we know that younger generations are delaying having kids and opting for pets first.
So they have that disposable income that they want to spend that way.
So it really provides companies like Purina the opportunity to innovate and have success in this category.
We do a lot of work with entrepreneurs and startups to help mentor them as well so that we can understand what's out there and how we can take advantage of innovation that they are saying.
So, yes, there's an incredible demand that can lead to a lot of innovation and it can even lead to very expensive [inaudible] inaudible him.
[STUDENT] If I run out on my own.
That won't fly.
So I'm interested in the topic of brand influences.
Now, we have many students listening to the school's night.
They didn't understand the concept of brand influences, but I'm curious to know what that means in the pet food industry.
Who are they, who do you go to who influences Outbrain choice?
So that's a great question I've mentioned a couple..
There's a set several that we really focus on veterinarians are definitely an authority on pet health and we know that every consumer that or pet owner that gets has to go to a veterinarian.
So that's definitely a very important one.
Pet welfare groups like shelters and rescues are often the first connector to pet owners as well.
So it's really important for us.
Have connections there.
Groups like the american kennel club that promote responsible and purposeful breeding can also be helpful.
And we also are aware of a lot of other social and online Influencers.
We've worked with human and pet influences as you can imagine, to really get their honest reviews and endorsements when it's an authentic.
Fit so we don't try to force fit.
Of those things we worked we looked for those positive natural, authentic relationships.
So I want to ask you about something that caught my attention, literally a couple of days ago, the new reality show, good pitch, perfect, which I believe is being hosted by rebel wilson, WHO I quite like, I quite enjoyed comedy.
And as I said.
School, my teachers, so can you tell me about reality shows like [inaudible] folks and more importantly, Purina's relationship the show.
So we occassionally do work with reality TV shows, were really excited about this show.
One of our amazing, that's Vets Dr.
Kelly Harris is a judge and we're proud to be offering the grand prize for this.
Reality show as well.
Obviously, the safety of our dogs is our top priority and ADC has been absolutely fantastic to work with this.
And I believe that's premiering tonight on ABC.
I think you might be right.
Certainly the aids that I've seen coming through look quite fascinating.
So I must make sure I recorded.
So I want to shift gears a little bit and talk about this.
Of the food industry.
So won't do you see as some of the emerging trends post covert, not just because of COVID, but because of innovation in general, what's happening in the industry.
[SPEAKER] For sure.
So first one I'm going to say is one that is not going to come to a shock to anybody and that's really direct to home products and services will continue to bill.
I mean, we saw that.
During COVID It was an assessment for people to purchase this way.
And we're starting to see that that necessity is paying off because people saw the convenience OUT there.
We like to say that as we look to the future, that consumers are going to look for this frictionless shopping experience and they're going to want their unique needs met when where.
And how they wanted.
So that's going to become even more important as we go into the future.
Another, trend that we're seeing is consumers are really demonstrating and renew competence and science as a foundational understanding for human and pet health.
So that is really great for us because it's making our innovation that we have.
Even more relevant than it's ever been.
And as I mentioned, we have somebody scientist and behaviorist here on staff, nutritious that can help us so that that actually plays right, right into our wheel house and then there's also a continued in growing consumer desire to support and align with purpose-driven organizations, including.
And this was a trend that was building before COVID, but it's been amplified as a need for businesses to step up and support their communities and it's not going to go away and sustainability it's into that as well.
[STUDENT] So we're gonna talk about your leadership, your role as a leader, and also think of some advice for our students.
So first and foremost, you're a woman seeing using a large organization, Karina, which sits with an even larger global organization.
This sleigh.
So do you ever stop and think about your what of achieved effect that you are a woman.
Ceo and President, and your among a small but growing group of woman who lead such organizations.
[SPEAKER] I do and when I accepted this role, I was told that this was a huge responsibility on my shoulders and try not to think about it too much.
But so of course there's pressure and there's responsibility.
However, I don't dwell on it.
A female perspective.
I dwell on it because I want to focus on being a really good leader, not because I'm a female leader, so I think that's really, important.
And I try not to focus too much on the female part of it.
When I look at my career and I look at how I got here and why I got here I've had a lot of mentors in life both men and women, and I've mentored both men and women.
I've had good sponsors and it's because of their continuous support their tough love, their feedback when I didn't necessarily even want it, that really has helped me get to area today.
And I have the mantra, that, that it's important to.
Collaborate and not compete.
And especially mean that when you're working with women, I think a lot of times we look at it and say there's only one or two of us in these roles but really the more we can band together and help bring us all up, the more successful women are going to be in the future.
If you always gravitated toward leadership roles.
[SPEAKER] So that's good.
It's a really interesting question because I've always thought that leadership comes in kind of different shapes and sizes.
I was extremely shy when I was a child.
And I ended up taking on leadership roles, not because I understood them as being leadership roles, but because I found them to be very interesting or something that I wanted to do.
I think leadership roles can come in various different shapes and sizes.
I would like to say there's also something I've learned throughout the years that there's a lot about leadership that you can learn by not having the exact top leadership role.
So there's a lot of value and taking on supporting roles and getting more out of your skills and seeing how you.
Contribute as part of a team.
So don't think of it.
I don't think of it as I have to be president of an organization.
I could lead a committee and that can be just as important.
And I could add just as much value.
And that way and sometimes even more value because I have an area of expertise that I can actually bring to the forefront and.
[STUDENT] So as you think about your career and I know that you do.
Spend quite a bit of time mentoring younger students.
What qualities do you look for and what, what do you encourage young as younger people to focus on?
That is such a great question.
So first I'd like to say is be agile and open to new opportunities know the what, but remain agile on the how.
So as I mentioned a minute ago, you don't have to lead.
All the time to be the most to be the leader.
So think about that.
Develop listening skills because you need to be open to others perspectives and listen to learn and not to respond.
So really be in the moment and don't be thinking of what answer you're gonna give.
But seek to understand what's going on and what they're trying to communicate.
And then learn to prior prioritize.
It's really important to know that just because you can't do something doesn't mean you should and you need to decide what's most important and what's going to add the value to the team or to the goal that you're trying to go after.
Someone's book a little bit about DA, and hiring.
And retaining diverse talent right now is top of mind for many of us.
So to speak to me about some of the initiatives you've gotta Purina two to do exactly that to hire and retain diverse talent.
[SPEAKER] Sure, this IS such AN important topic today.
So we're really approaching it from two different perspectives.
And so you have to think about how do we ensure Karina's inclusive.
And a great place to work for all.
And then how do we help make sure the industry is more progressive when it comes to equity?
So it's really kind of a two part, two prompts approach.
So [inaudible] is evolving.
I have to say we're not perfect and it's important for me as a leader to understand that we do have room to improve.
And in doing so, will make art.
Culture on our business better.
And we have to really reflect on that and decide how we want to move forward.
An example of one of the things we started doing this summer or last summer was a series of listening sessions to learn about the experiences and the life and the work of our associates of color.
And I had the opportunity to sit and listen on these and how did I learn a lot?
And it put a different perspective and to the way I approach just everyday conversations as well as as well as is my personal approach.
And we also have to say, and it's something we started to say a lot here.
We have to get comfortable with being uncomfortable and I really really taken that to heart because on this journey you are going to be uncomfortable and you need to still keep exploring and searching for those different areas.
So we have an opportunity to help the next generation.
So you themselves, especially people of color, is pet owners, as well as veterinarians.
We know that there's only 2% of that Marion's out there today that are, are diverse candidates.
So we are starting to create scholarships at various veterinarian universities to promote a more diverse field.
So it's one step.
We have to take many one steps to get where we can be.
[STUDENT] [inaudible], you'll switch to giving back one of the things I love about our students and our alumni as a willingness to make.
The world a better place to contribute to society.
When I prepared for this interview, I found out that you do in quite a lot of work to support to Mr.
So I'd love it if you could share that.
Were and why they work and some of your commitment to thank you.
So Purina has been supporting domestic abuse survivors with pads for formalised many years, and we formalized this effort a few years back and we created a project called the purple lease project.
We started up in New York and it was fantastic, but the goal was how do we create a shelter in every state where consumer abuse victims can bring their pets.
And so our goal is to help more.
Mastic island shelters become pet friendly.
And it's really important to do that because about half of the victims won't leave if their pets can't join them because they know they will be harmed, or even worse killed.
And only about 10% of shelters currently allow pets today.
So this has become a real personal passion for me.
I had the opportunity to go to the Hill in 2019 to meet with members of Congress and their staff to help push legislation forward that would provide more support at the federal level for this particular initiative.
It was an incredible experience.
I've never done anything like that before.
Legislation passed, not because of me.
But because of all of the people that went there to do that and I just think it's so important.
I think I mentioned the very beginning, one of the reasons I loved working at Purina was because our founder and we are always a purpose-driven organization that was philosophy.
So we do that.
We do that and we do it in many other ways too.
And such important work.
So moving on to work-life.
[STUDENT] Balance.
So this is something our students often lean into.
And I guess for the students right now, this crunching through the middle of semester and it's not a pretty time.
But speaks to me about work-life balance for you.
What does it mean and how do you find some sort of work life balance?
And your life?
So that's really a great question.
And until I really came to the realization that I own my own work-life balance, which sounds sort of silly but you always sit there and think, oh gosh, I've got to have this balance of what it is.
And so it was important for me to realize that I was in charge of it.
And once I realized I was in charge of it.
I can take the responsibilities, whether that I always do.
I do believe that when I am at home and my children are there, which are not so much anymore, but I needed to be fully present.
So I often raise my phone up to people and say, no one asked you to bring this to the soccer game.
Nobody asked you to bring that to the dinner table, so.
Well, I really found it was important to be fully present when I was home and then be fully present when I was at work.
I have a philosophy that's Work hard, play hard.
So you've gotta do both.
Sometimes it's easier said than done, but, but it's important, so it's a journey, it's an evolving journey.
[STUDENT] You were cEO what would you be doing?.
[SPEAKER] My cash.
I would probably say teaching or coaching.
It would be would be what I would love to do.
[STUDENT] And what do you want to do next?
So this is such an interesting question because my kids and I were just joking about this over the holidays, they swear I can't stop working because my DNA to sit still.
So we'll see I would probably I would probably like to teach and I'll throw it maybe my Emil heavy back one day.
[STUDENT] So for my last question before I hand the microphone to [inaudible] finale is always career advice for our students and I wonder if you can take it in a couple of parts.
So as students are coming into my freshman and thinking about the career and also they leave and graduate and start moving into their first career.
So, so if it helps you to spell it down into two pieces of the Great thank you.
So I always like to think of life like your careers, a journey, not a destination.
So by the nature of that destination is a straight line somewhere a journey is a traveling as a travel that goes back and forth.
So it's good to have a plan, but you really need to be open to those unplanned opportunities that can stand before us today.
And and I always when I was growing up and when I was in school and even probably.
Total probably five or six years ago, always envision my career as a ladder that was always the visual that you gave you and you would go up the rungs of the ladder.
And I would challenge people to think of it differently today.
I would envision your career like a rock climbing wall, not a ladder.
So when you climb a rock, if you've ever done in their gone bouldering.
You go up, you go sideways.
Sometimes you go down and then you go up again.
And I think that's just so important for people to understand and students to understand is that, that journey is going to take you and a lot of different places and sometimes that lateral move is going to teach you skills that you never thought that you needed, but you absolutely do.
Need to succeed and really be open to that journey.
[STUDENT] Such good advice and now I'm gonna pass the microphone to Megan, who's going to transition us to questions from our audience, omega1.
[STUDENT] Alright, thank you.
First question will go back to Miami.
You told us why Miami, what you learnt in your change, anything but.
How did your Miami experience ship your career?.
[SPEAKER] So I would say a lot of my Miami experience revolved around tennis.
Took a lot of my time and tennis taught me a lot about leadership, which we've talked about a little bit before it taught me about teamwork.
He talked.
You know, a lot about preparation and prioritization.
So when you're playing tennis, you've gotta have a strategy.
You have to think about where you want to go and you have to get prepared for it.
And then you also at the same time, he distinct about think about the impact that a shot will have.
So you need to go to the next space.
So a lot of that was incorporated into.
Where I am today and how I think today, friendships as I mentioned before, I was incredibly shy and the gift of meeting such great people and having the ability to do that in a safe environment and I would also say the professors and my experience in business school.
I, am me and I was talking to some professors about this a couple years ago when I came back, my ME started experiential learning before experiential as a word.
And it was the way to go in.
And I think that helped a lot because you had some hands-on experiences that really made it important and a lot of professors actually had real work experience and not and all of them.
And then you need to have the research I learned a