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HJ Heinz (HNZ Quote - Cramer on HNZ - Stock Picks) CEO Bill Johnson discussed his company's recent successes in a tough market on a special, midday episode of Jim Cramer's "Mad Money" TV show.
Johnson said Heinz is growing because people like good tasting food, and that's what his company delivers.
Johnson said global demand for his company's products is strong, especially in Russia which has become the second largest market in the world for ketchup. He said ketchup sales in that country were up 68% in the first quarter of 2008.
Johnson also noted that while it has been difficult to gain access in many international markets, including China, the company is making strides. He said that consumers don't trade down in quality once they are exposed to Heinz' brands.
When asked whether a stronger dollar hurts the company, the CEO said that the dollar's strength has been immaterial. He noted that sales for the company are split 50-50 between domestic versus international and the company is comfortable with the value of the dollar.
Moving Along
Cramer also talked with Michael Ward, chairman, president and CEO of
CSX (CSX Quote - Cramer on CSX - Stock Picks), to find out more about the recent changes in his company's board of directors.
After a lengthy proxy and legal battle, CSX has taken on two new board members, with two others still pending. Ward said he welcomes the new members and hopes that the influx of their new ideas and opinions will help strengthen the company.
Scott Rutt
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