Latest / Omni Talk Retail / 🥛 AI, Health & Growth with Danone European President Pablo Perversi | CGF 2025 Interview

Transcript

🥛 AI, Health & Growth with Danone European President Pablo Perversi | CGF 2025 Interview · Omni Talk Retail

• 0:00
  Hello,
• 0:01
  everyone.
• 0:01
  Welcome
• 0:02
  back.
• 0:02
  This
• 0:02
  is
• 0:02
  omnitalk
• 0:03
  Retail
• 0:03
  coming
• 0:03
  to
• 0:04
  you
• 0:04
  live
• 0:04
  from
• 0:04
  the
• 0:04
  Vuzion
• 0:05
  Group
• 0:05
  booth
• 0:06
  at
• 0:06
  the
• 0:06
  Consumer
• 0:07
  Goods
• 0:07
  Forum
• 0:08
  here
• 0:08
  in
• 0:08
  Amsterdam.
• 0:09
  I'm
• 0:09
  Anne
• 0:09
  Mazenga.
• 0:10
  And
• 0:10
  I'm
• 0:10
  Chris
• 0:10
  Walton.
• 0:11
  And
• 0:11
  standing
• 0:11
  between
• 0:11
  us,
• 0:12
  we
• 0:12
  have
• 0:12
  the
• 0:12
  Danone
• 0:13
  president
• 0:14
  for
• 0:14
  the
• 0:14
  Eurozone,
• 0:15
  Pablo
• 0:16
  Perversi.
• 0:17
  Pablo,
• 0:17
  welcome.
• 0:18
  And
• 0:18
  thanks
• 0:18
  so
• 0:18
  much
• 0:18
  for
• 0:19
  joining
• 0:19
  us
• 0:19
  today.
• 0:20
  Thank
• 0:20
  you.
• 0:20
  It's
• 0:20
  a
• 0:20
  real
• 0:21
  honor.
• 0:21
  It's
• 0:22
  great
• 0:22
  to
• 0:22
  have
• 0:22
  you.
• 0:24
  Oh,
• 0:24
  go
• 0:24
  ahead.
• 0:25
  No,
• 0:25
  no,
• 0:26
  I
• 0:26
  was
• 0:26
  just
• 0:27
  gonna
• 0:27
  say,
• 0:27
  you
• 0:28
  mentioned
• 0:28
  earlier,
• 0:29
  I've
• 0:29
  never
• 0:29
  had
• 0:30
  to
• 0:30
  look
• 0:30
  up
• 0:30
  so
• 0:30
  high.
• 0:31
  You're
• 0:31
  one
• 0:31
  of
• 0:31
  the
• 0:31
  tal
• 0:32
  people
• 0:32
  that
• 0:32
  I've
• 0:32
  ever
• 0:33
  interviewed
• 0:33
  before,
• 0:33
  and
• 0:34
  it's
• 0:34
  such
• 0:34
  a
• 0:34
  pleasure.
• 0:35
  Thank
• 0:35
  you.
• 0:37
  All
• 0:37
  right,
• 0:37
  well,
• 0:37
  let's
• 0:38
  start
• 0:38
  with
• 0:38
  the
• 0:38
  big
• 0:38
  picture,
• 0:39
  so
• 0:39
  to
• 0:39
  speak.
• 0:40
  You
• 0:40
  know,
• 0:40
  how
• 0:40
  would
• 0:41
  you
• 0:41
  describe
• 0:41
  Danone's
• 0:42
  current
• 0:42
  strategy
• 0:43
  in
• 0:43
  Europe?
• 0:43
  Particularly,
• 0:44
  you
• 0:44
  know,
• 0:45
  when
• 0:45
  you
• 0:45
  think
• 0:45
  about
• 0:45
  the
• 0:45
  global
• 0:46
  mission?
• 0:46
  I
• 0:46
  want
• 0:46
  to
• 0:46
  get
• 0:46
  this
• 0:47
  right,
• 0:47
  of
• 0:47
  bringing
• 0:47
  health
• 0:48
  through
• 0:48
  food
• 0:48
  to
• 0:48
  as
• 0:49
  many
• 0:49
  people
• 0:49
  as
• 0:49
  possible.
• 0:50
  Well,
• 0:50
  our
• 0:50
  strategy
• 0:51
  is
• 0:51
  our
• 0:51
  mission,
• 0:52
  basically.
• 0:52
  We.
• 0:53
  We
• 0:53
  set
• 0:53
  our
• 0:53
  mission
• 0:53
  as
• 0:54
  bringing
• 0:54
  health
• 0:55
  through
• 0:55
  food
• 0:55
  to
• 0:55
  as
• 0:55
  many
• 0:56
  people
• 0:56
  as
• 0:56
  possible.
• 0:56
  And
• 0:57
  that's
• 0:57
  exactly
• 0:57
  what
• 0:57
  we
• 0:58
  do.
• 0:58
  And
• 0:58
  every
• 0:59
  day
• 0:59
  we
• 0:59
  try
• 0:59
  to
• 0:59
  go
• 0:59
  to
• 1:00
  more
• 1:00
  people
• 1:01
  if
• 1:01
  it's
• 1:01
  possible.
• 1:03
  And
• 1:03
  with
• 1:03
  that,
• 1:03
  we
• 1:04
  actually
• 1:04
  aim
• 1:04
  to
• 1:05
  grow
• 1:05
  volume
• 1:06
  and
• 1:06
  continue
• 1:06
  to
• 1:07
  perform
• 1:07
  in
• 1:07
  a
• 1:07
  way
• 1:08
  where
• 1:08
  the
• 1:08
  growth
• 1:08
  is
• 1:09
  actually
• 1:09
  coming
• 1:09
  our
• 1:09
  way.
• 1:10
  Healthy
• 1:11
  growth,
• 1:11
  sustainable
• 1:12
  growth,
• 1:12
  growth
• 1:13
  that
• 1:13
  is
• 1:13
  actually
• 1:14
  able
• 1:14
  to
• 1:14
  be
• 1:15
  stepped
• 1:15
  up
• 1:15
  over
• 1:16
  time.
• 1:16
  But
• 1:17
  at
• 1:17
  the
• 1:17
  same
• 1:17
  time,
• 1:18
  we're
• 1:18
  transforming
• 1:18
  the
• 1:19
  company.
• 1:19
  We're
• 1:19
  making
• 1:19
  the
• 1:20
  company
• 1:20
  into
• 1:21
  a
• 1:21
  company
• 1:21
  that
• 1:21
  is
• 1:22
  much
• 1:22
  more
• 1:22
  responsive,
• 1:23
  much
• 1:23
  more
• 1:23
  resilient,
• 1:24
  much
• 1:25
  more
• 1:25
  adaptive
• 1:26
  to
• 1:26
  the
• 1:26
  capacities
• 1:27
  that
• 1:27
  we
• 1:27
  need
• 1:28
  in
• 1:28
  the
• 1:28
  market,
• 1:28
  investing
• 1:29
  in
• 1:29
  the
• 1:29
  things
• 1:30
  that
• 1:30
  consumers
• 1:30
  need
• 1:31
  for
• 1:31
  the
• 1:31
  future,
• 1:32
  with
• 1:32
  health
• 1:33
  being
• 1:33
  something
• 1:34
  that
• 1:34
  is
• 1:34
  really
• 1:34
  at
• 1:35
  the
• 1:35
  heart
• 1:35
  of
• 1:35
  what
• 1:35
  we
• 1:35
  do,
• 1:36
  but
• 1:36
  also
• 1:36
  with
• 1:36
  sustainability
• 1:37
  being
• 1:37
  at
• 1:38
  the
• 1:38
  heart
• 1:38
  of
• 1:38
  what
• 1:38
  we
• 1:38
  do.
• 1:39
  So
• 1:39
  we're
• 1:40
  building
• 1:40
  all
• 1:40
  these
• 1:40
  capabilities
• 1:41
  in
• 1:41
  digital
• 1:42
  as
• 1:42
  well,
• 1:42
  which
• 1:42
  is
• 1:42
  very
• 1:42
  exciting
• 1:43
  as
• 1:43
  a
• 1:43
  company
• 1:44
  with
• 1:44
  AI
• 1:45
  at
• 1:45
  the
• 1:45
  center
• 1:45
  of
• 1:46
  what
• 1:46
  we're
• 1:46
  doing
• 1:46
  as
• 1:46
  well,
• 1:47
  making
• 1:47
  sure
• 1:47
  that
• 1:48
  we
• 1:48
  have
• 1:48
  the
• 1:48
  data
• 1:48
  right
• 1:49
  so
• 1:49
  that
• 1:49
  we're
• 1:50
  building
• 1:50
  the
• 1:50
  ecosystems
• 1:51
  that
• 1:51
  are
• 1:51
  going
• 1:51
  to
• 1:51
  be
• 1:51
  able
• 1:52
  to
• 1:52
  give
• 1:52
  us
• 1:52
  the
• 1:52
  AI
• 1:53
  capabilities
• 1:53
  into
• 1:54
  the
• 1:54
  future.
• 1:54
  It's
• 1:54
  very
• 1:54
  exciting
• 1:55
  times
• 1:55
  at
• 1:55
  the
• 1:55
  moment.
• 1:56
  Yeah.
• 1:57
  Well,
• 1:58
  I'm
• 1:58
  curious,
• 1:59
  Pablo,
• 1:59
  how
• 2:00
  are
• 2:00
  you
• 2:01
  making
• 2:02
  it
• 2:03
  an
• 2:03
  option
• 2:04
  for
• 2:04
  more
• 2:04
  people?
• 2:04
  You
• 2:05
  talk
• 2:05
  about
• 2:05
  trying
• 2:05
  to
• 2:06
  get
• 2:06
  healthier
• 2:06
  food
• 2:06
  to
• 2:06
  more
• 2:07
  people.
• 2:08
  How
• 2:08
  are
• 2:08
  you
• 2:08
  doing
• 2:09
  things
• 2:09
  differently
• 2:09
  at
• 2:09
  Danone
• 2:10
  to
• 2:10
  make
• 2:10
  that
• 2:11
  possible,
• 2:11
  to
• 2:11
  make
• 2:11
  that
• 2:12
  maybe
• 2:13
  price
• 2:13
  point
• 2:13
  more
• 2:14
  attainable
• 2:14
  for
• 2:14
  people?
• 2:15
  Maybe
• 2:15
  new
• 2:16
  formulations
• 2:16
  that
• 2:16
  you're
• 2:17
  working
• 2:17
  on
• 2:17
  so
• 2:17
  that
• 2:17
  more
• 2:18
  people
• 2:18
  can
• 2:18
  access
• 2:19
  the
• 2:19
  food
• 2:19
  that
• 2:19
  you
• 2:19
  bring
• 2:20
  to
• 2:20
  make
• 2:20
  our
• 2:20
  world
• 2:21
  more
• 2:21
  healthy.
• 2:22
  Can
• 2:22
  you
• 2:22
  share
• 2:22
  any
• 2:22
  examples
• 2:23
  of
• 2:23
  things
• 2:24
  like
• 2:24
  that?
• 2:24
  That
• 2:24
  you've
• 2:24
  been
• 2:24
  working
• 2:25
  on,
• 2:25
  I
• 2:25
  can
• 2:26
  do.
• 2:27
  I
• 2:27
  think
• 2:27
  the
• 2:28
  first
• 2:28
  thing
• 2:28
  to
• 2:28
  say
• 2:28
  is
• 2:29
  you
• 2:29
  want
• 2:29
  to
• 2:29
  have
• 2:30
  strong
• 2:30
  brands.
• 2:31
  Okay.
• 2:32
  Our
• 2:32
  company
• 2:32
  is
• 2:33
  on
• 2:34
  the
• 2:34
  point
• 2:34
  of
• 2:35
  view
• 2:35
  of
• 2:35
  brands.
• 2:36
  A
• 2:36
  company
• 2:36
  that
• 2:36
  invests
• 2:37
  in
• 2:37
  brands,
• 2:38
  that
• 2:38
  grows
• 2:38
  brands,
• 2:39
  and
• 2:39
  that
• 2:40
  has
• 2:40
  a
• 2:40
  really
• 2:40
  good
• 2:41
  definition
• 2:41
  of
• 2:41
  what
• 2:42
  a
• 2:42
  brand
• 2:42
  is,
• 2:42
  what
• 2:43
  that
• 2:43
  Persona
• 2:43
  is.
• 2:44
  With
• 2:44
  that,
• 2:44
  then
• 2:45
  you
• 2:45
  can
• 2:45
  actually
• 2:45
  target
• 2:46
  consumers
• 2:47
  through
• 2:47
  products.
• 2:48
  But
• 2:48
  science
• 2:49
  plays
• 2:49
  a
• 2:49
  really
• 2:49
  important
• 2:50
  part
• 2:51
  in
• 2:51
  not
• 2:51
  only
• 2:52
  configuring
• 2:52
  products
• 2:53
  that
• 2:53
  are
• 2:53
  superior
• 2:53
  than
• 2:54
  your
• 2:54
  competition
• 2:54
  or
• 2:55
  unique
• 2:55
  in
• 2:55
  some
• 2:55
  cases.
• 2:56
  Right.
• 2:56
  But
• 2:57
  also
• 2:57
  in
• 2:57
  making
• 2:58
  sure
• 2:58
  that
• 2:58
  you
• 2:59
  can
• 2:59
  actually
• 2:59
  bring
• 3:00
  new
• 3:00
  consumers
• 3:00
  into
• 3:01
  the
• 3:01
  brand
• 3:01
  franchise
• 3:02
  by
• 3:02
  continuing
• 3:03
  to
• 3:03
  add
• 3:03
  relevance,
• 3:04
  by
• 3:04
  continue
• 3:05
  to
• 3:05
  add
• 3:05
  functionality,
• 3:06
  by
• 3:07
  making
• 3:07
  sure
• 3:07
  that
• 3:08
  that
• 3:08
  equation
• 3:09
  is
• 3:09
  always
• 3:09
  multiplying
• 3:10
  itself
• 3:11
  to
• 3:11
  drive
• 3:11
  penetration.
• 3:12
  And
• 3:13
  with
• 3:13
  that,
• 3:13
  you're
• 3:13
  able
• 3:14
  to
• 3:14
  sell
• 3:14
  more.
• 3:14
  And
• 3:15
  an
• 3:15
  example
• 3:15
  of
• 3:15
  that
• 3:15
  is
• 3:16
  Activia.
• 3:16
  We
• 3:16
  had
• 3:16
  the
• 3:17
  Activia.
• 3:18
  Yeah.
• 3:19
  But,
• 3:19
  hey,
• 3:19
  you
• 3:19
  know
• 3:19
  what
• 3:19
  we've
• 3:20
  actually
• 3:20
  done
• 3:20
  the
• 3:21
  probiotics,
• 3:22
  dailies,
• 3:22
  and
• 3:22
  those
• 3:22
  are
• 3:22
  for
• 3:23
  people
• 3:23
  that
• 3:23
  want
• 3:23
  supplements.
• 3:24
  And
• 3:24
  now
• 3:24
  we
• 3:24
  got
• 3:24
  kefir.
• 3:25
  And
• 3:25
  if
• 3:25
  you
• 3:25
  want
• 3:26
  kefir,
• 3:26
  it's
• 3:27
  like
• 3:27
  the
• 3:27
  turbocharger.
• 3:28
  You
• 3:28
  know,
• 3:28
  you
• 3:28
  take
• 3:29
  one
• 3:29
  of
• 3:29
  those
• 3:29
  and
• 3:29
  you
• 3:29
  get
• 3:30
  many
• 3:30
  more.
• 3:31
  Can't
• 3:31
  stop
• 3:31
  drinking
• 3:32
  it.
• 3:32
  Hey,
• 3:32
  you
• 3:32
  get
• 3:33
  all
• 3:33
  the
• 3:33
  great
• 3:34
  bacteria
• 3:35
  back
• 3:35
  into
• 3:35
  your
• 3:36
  gut.
• 3:36
  And
• 3:36
  if
• 3:37
  you've
• 3:37
  gone
• 3:37
  out
• 3:37
  for
• 3:37
  a
• 3:38
  night
• 3:38
  with
• 3:38
  a
• 3:38
  bit
• 3:38
  of
• 3:39
  alcohol
• 3:39
  and
• 3:39
  killed
• 3:40
  all
• 3:40
  your
• 3:40
  good
• 3:41
  bacteria,
• 3:41
  hey,
• 3:41
  you
• 3:42
  can
• 3:42
  get
• 3:42
  them
• 3:42
  back
• 3:42
  with
• 3:42
  a
• 3:43
  kefir.
• 3:43
  One
• 3:43
  shot.
• 3:44
  Exactly.
• 3:45
  One
• 3:45
  bottle.
• 3:46
  And,
• 3:46
  you
• 3:46
  know,
• 3:47
  science
• 3:47
  is
• 3:47
  actually
• 3:48
  taking
• 3:48
  us
• 3:48
  into
• 3:48
  a
• 3:49
  space
• 3:49
  where
• 3:49
  we
• 3:49
  can
• 3:50
  capture
• 3:50
  more
• 3:50
  and
• 3:50
  more
• 3:51
  consumers
• 3:51
  all
• 3:51
  the
• 3:52
  time
• 3:52
  through
• 3:53
  the
• 3:53
  things
• 3:53
  that
• 3:53
  we
• 3:53
  put
• 3:54
  into
• 3:54
  our
• 3:54
  products.
• 3:55
  And
• 3:56
  that's
• 3:56
  the
• 3:56
  way
• 3:56
  it
• 3:56
  goes.
• 3:56
  Yeah.
• 3:57
  Making
• 3:57
  them
• 3:57
  more
• 3:57
  functional
• 3:58
  sounds.
• 3:58
  Absolutely.
• 3:59
  It's
• 3:59
  more
• 3:59
  functional,
• 3:59
  but
• 4:00
  it's
• 4:00
  also
• 4:00
  strengthening
• 4:00
  the
• 4:01
  brand,
• 4:01
  and
• 4:01
  it's
• 4:01
  a
• 4:02
  virtuous
• 4:02
  circle
• 4:03
  that
• 4:03
  takes
• 4:03
  you
• 4:04
  further.
• 4:04
  The
• 4:05
  idea
• 4:05
  you're
• 4:05
  getting
• 4:05
  at
• 4:05
  there,
• 4:05
  food
• 4:06
  is
• 4:06
  medicine,
• 4:06
  we're
• 4:06
  hearing
• 4:07
  quite
• 4:07
  palpably
• 4:07
  at
• 4:08
  this
• 4:08
  conference,
• 4:08
  and
• 4:08
  we
• 4:08
  have
• 4:09
  been
• 4:09
  hearing
• 4:09
  it
• 4:09
  for
• 4:09
  the
• 4:09
  last
• 4:09
  about
• 4:10
  a
• 4:10
  month
• 4:10
  or
• 4:10
  so,
• 4:10
  too.
• 4:11
  All
• 4:12
  right,
• 4:12
  so
• 4:12
  products
• 4:12
  are
• 4:13
  one
• 4:13
  thing.
• 4:13
  So
• 4:13
  if
• 4:13
  I
• 4:13
  was
• 4:14
  to
• 4:14
  put
• 4:14
  you
• 4:14
  on
• 4:14
  the
• 4:14
  spot
• 4:14
  a
• 4:14
  little
• 4:14
  bit,
• 4:15
  I'd
• 4:15
  say
• 4:15
  products
• 4:16
  or
• 4:16
  brands
• 4:16
  are
• 4:16
  one
• 4:17
  piece
• 4:17
  of
• 4:17
  the
• 4:18
  strategy.
• 4:18
  But
• 4:19
  you
• 4:19
  have
• 4:19
  to
• 4:19
  also
• 4:20
  think
• 4:20
  about
• 4:20
  all
• 4:20
  the
• 4:20
  channel
• 4:21
  relationships
• 4:21
  that
• 4:22
  you
• 4:22
  have
• 4:22
  to
• 4:22
  manage
• 4:22
  across
• 4:22
  Europe,
• 4:23
  too,
• 4:24
  and
• 4:24
  how
• 4:24
  people
• 4:24
  are
• 4:25
  shopping,
• 4:25
  where
• 4:25
  they're
• 4:25
  shopping,
• 4:26
  whether
• 4:26
  it's
• 4:26
  digitally
• 4:27
  or
• 4:27
  in
• 4:27
  store,
• 4:27
  across
• 4:28
  different
• 4:28
  types
• 4:28
  of
• 4:29
  retailers,
• 4:29
  too.
• 4:30
  How
• 4:30
  does
• 4:30
  that
• 4:30
  play
• 4:31
  into
• 4:31
  the
• 4:31
  decisions
• 4:32
  you're
• 4:32
  making
• 4:32
  at
• 4:32
  Danone?
• 4:33
  Well,
• 4:34
  Danone,
• 4:35
  first
• 4:35
  say
• 4:36
  that
• 4:36
  we
• 4:36
  have
• 4:36
  the
• 4:37
  richest
• 4:38
  channel
• 4:38
  footprint
• 4:38
  that
• 4:39
  you
• 4:39
  could
• 4:39
  ever
• 4:39
  imagine,
• 4:39
  because
• 4:40
  we
• 4:40
  have.
• 4:40
  Not
• 4:41
  many
• 4:41
  people
• 4:41
  know,
• 4:41
  but
• 4:41
  we
• 4:41
  actually
• 4:42
  do
• 4:42
  nutrition
• 4:42
  for
• 4:43
  health
• 4:43
  purposes
• 4:44
  in
• 4:44
  the
• 4:44
  medical
• 4:44
  world
• 4:45
  as
• 4:45
  well
• 4:46
  for
• 4:46
  people
• 4:46
  that
• 4:47
  are
• 4:47
  recovering
• 4:47
  from
• 4:48
  oncological
• 4:49
  treatments
• 4:49
  or
• 4:49
  from
• 4:49
  frailty
• 4:50
  or
• 4:50
  from
• 4:51
  different
• 4:52
  needs.
• 4:53
  And
• 4:53
  it's
• 4:53
  very
• 4:54
  interesting
• 4:54
  to
• 4:54
  see
• 4:55
  that
• 4:55
  with
• 4:55
  that,
• 4:56
  plus
• 4:56
  all
• 4:56
  the
• 4:57
  other
• 4:57
  channels
• 4:57
  that
• 4:57
  we
• 4:57
  have
• 4:58
  and
• 4:59
  the
• 4:59
  diversity
• 4:59
  of
• 5:00
  business
• 5:00
  models,
• 5:00
  we
• 5:00
  cover
• 5:01
  probably
• 5:01
  the
• 5:01
  richest
• 5:02
  channel
• 5:02
  footprint
• 5:03
  that
• 5:03
  you
• 5:03
  might
• 5:03
  actually
• 5:04
  have
• 5:05
  across
• 5:05
  the
• 5:05
  whole
• 5:05
  of
• 5:05
  fmcg.
• 5:07
  And
• 5:07
  that
• 5:07
  provides
• 5:09
  a
• 5:09
  lot
• 5:09
  of
• 5:09
  different
• 5:10
  solutions
• 5:10
  for
• 5:11
  consumers
• 5:12
  all
• 5:12
  along
• 5:12
  the
• 5:12
  spectrum
• 5:13
  of
• 5:13
  their
• 5:13
  life,
• 5:14
  all
• 5:14
  along
• 5:14
  the
• 5:15
  journey
• 5:15
  of
• 5:15
  whatever
• 5:15
  they're
• 5:16
  actually
• 5:16
  doing.
• 5:17
  And
• 5:17
  it
• 5:17
  brings
• 5:17
  much
• 5:18
  more
• 5:18
  relevance
• 5:18
  for
• 5:19
  our
• 5:19
  brands
• 5:19
  because
• 5:19
  we
• 5:20
  can
• 5:20
  be
• 5:20
  in
• 5:20
  many,
• 5:20
  many
• 5:21
  more
• 5:21
  touch
• 5:21
  points
• 5:22
  than
• 5:22
  some
• 5:23
  of
• 5:23
  the
• 5:23
  other
• 5:24
  competitors
• 5:24
  that
• 5:24
  we
• 5:25
  have.
• 5:25
  And
• 5:25
  that's
• 5:26
  where
• 5:26
  it
• 5:26
  becomes
• 5:26
  really
• 5:26
  fun,
• 5:27
  because
• 5:27
  you
• 5:27
  don't
• 5:27
  only
• 5:28
  grab
• 5:28
  a
• 5:29
  consumer
• 5:29
  in
• 5:30
  the
• 5:30
  gondola
• 5:30
  of
• 5:30
  a
• 5:31
  supermarket.
• 5:31
  You
• 5:31
  grab
• 5:32
  him
• 5:32
  when
• 5:32
  he
• 5:32
  goes
• 5:32
  to
• 5:32
  the
• 5:32
  beach,
• 5:33
  you
• 5:33
  grab
• 5:33
  him
• 5:33
  when
• 5:33
  he
• 5:33
  goes
• 5:34
  to
• 5:34
  the
• 5:34
  gym,
• 5:34
  you
• 5:34
  grab
• 5:34
  him
• 5:35
  when,
• 5:35
  you
• 5:35
  know,
• 5:35
  even
• 5:36
  they
• 5:36
  go
• 5:36
  into
• 5:36
  hospital.
• 5:37
  Yeah.
• 5:37
  Or
• 5:38
  when
• 5:38
  they
• 5:38
  have
• 5:38
  kids.
• 5:39
  And
• 5:39
  that
• 5:40
  is
• 5:40
  actually
• 5:40
  a
• 5:40
  competitive
• 5:41
  advantage
• 5:42
  that
• 5:42
  actually
• 5:42
  sets
• 5:42
  us
• 5:43
  apart
• 5:43
  in
• 5:43
  really
• 5:44
  trying
• 5:44
  to
• 5:44
  drive
• 5:45
  that
• 5:46
  Omni
• 5:47
  Channel
• 5:47
  approach,
• 5:48
  including
• 5:48
  in
• 5:48
  digital.
• 5:49
  Because
• 5:49
  I
• 5:49
  think
• 5:49
  nowadays
• 5:50
  everybody
• 5:50
  is
• 5:51
  actually
• 5:51
  going
• 5:51
  into
• 5:51
  digital.
• 5:52
  And
• 5:52
  if
• 5:52
  you
• 5:52
  look
• 5:53
  at
• 5:53
  some
• 5:53
  of
• 5:53
  our
• 5:54
  categories,
• 5:54
  got
• 5:54
  20%
• 5:55
  of
• 5:55
  the
• 5:55
  sales
• 5:56
  that
• 5:56
  we're
• 5:56
  actually
• 5:56
  doing
• 5:57
  through
• 5:57
  some
• 5:57
  of
• 5:58
  the
• 5:58
  digital
• 5:58
  channels.
• 5:59
  Pablo,
• 6:00
  let's
• 6:00
  talk
• 6:00
  a
• 6:00
  little
• 6:00
  bit
• 6:00
  about
• 6:01
  what's
• 6:01
  happening
• 6:03
  more
• 6:03
  specifically
• 6:04
  in
• 6:04
  some
• 6:04
  of
• 6:04
  those
• 6:04
  digital
• 6:05
  use
• 6:06
  cases
• 6:06
  that
• 6:06
  you
• 6:06
  gave,
• 6:07
  especially
• 6:07
  when
• 6:07
  we
• 6:07
  talk
• 6:07
  about
• 6:08
  more
• 6:08
  of
• 6:08
  the
• 6:08
  operations
• 6:09
  and
• 6:09
  supply
• 6:09
  chain
• 6:10
  part
• 6:10
  of
• 6:10
  it.
• 6:11
  How
• 6:11
  are
• 6:11
  you
• 6:11
  leveraging
• 6:12
  technology
• 6:13
  to
• 6:13
  help
• 6:14
  improve
• 6:14
  that
• 6:15
  and
• 6:15
  therefore
• 6:15
  improve
• 6:16
  everything
• 6:16
  else
• 6:17
  down
• 6:17
  the
• 6:17
  line?
• 6:18
  I
• 6:18
  love
• 6:18
  your
• 6:18
  question
• 6:18
  because
• 6:19
  it's
• 6:19
  really
• 6:19
  exciting.
• 6:20
  It's
• 6:20
  what
• 6:20
  we're
• 6:20
  really
• 6:21
  trying
• 6:21
  to
• 6:21
  do
• 6:22
  to
• 6:22
  the
• 6:23
  next
• 6:23
  level
• 6:23
  right
• 6:23
  now.
• 6:24
  And
• 6:24
  I
• 6:24
  think
• 6:24
  everybody's
• 6:25
  talking
• 6:25
  to
• 6:26
  AI.
• 6:26
  Not
• 6:27
  many
• 6:27
  people
• 6:27
  are
• 6:27
  doing
• 6:28
  great
• 6:28
  AI,
• 6:29
  but
• 6:30
  in
• 6:30
  reality,
• 6:31
  getting
• 6:32
  ready
• 6:32
  for
• 6:32
  AI
• 6:33
  is
• 6:33
  very,
• 6:33
  very
• 6:34
  important.
• 6:35
  And
• 6:35
  I
• 6:35
  think
• 6:35
  that
• 6:35
  we're
• 6:36
  on
• 6:36
  a
• 6:36
  journey
• 6:36
  with
• 6:36
  digital.
• 6:37
  We're
• 6:37
  on
• 6:37
  a
• 6:38
  journey
• 6:38
  with
• 6:38
  digitalizing
• 6:39
  a
• 6:40
  lot
• 6:40
  of
• 6:40
  the
• 6:40
  different
• 6:40
  areas
• 6:41
  of
• 6:41
  our
• 6:42
  company.
• 6:42
  We're
• 6:43
  on
• 6:43
  a
• 6:43
  journey
• 6:43
  to
• 6:44
  also
• 6:44
  improve
• 6:45
  our
• 6:45
  operations,
• 6:47
  our
• 6:47
  planning,
• 6:48
  our
• 6:48
  sales,
• 6:49
  and
• 6:49
  give
• 6:50
  capabilities
• 6:50
  to
• 6:51
  the
• 6:51
  salespeople
• 6:52
  so
• 6:52
  that
• 6:52
  they
• 6:52
  actually
• 6:52
  become
• 6:53
  much
• 6:54
  better
• 6:54
  enabled
• 6:55
  and
• 6:55
  impactful
• 6:56
  salespeople.
• 6:58
  And
• 6:58
  then
• 6:58
  on
• 6:58
  top
• 6:58
  of
• 6:59
  this,
• 6:59
  we
• 6:59
  can
• 6:59
  put
• 6:59
  AI.
• 7:00
  And
• 7:00
  we've
• 7:00
  started
• 7:01
  to
• 7:01
  do
• 7:01
  some
• 7:02
  testing
• 7:02
  on
• 7:03
  this
• 7:03
  and
• 7:04
  some
• 7:04
  pilots,
• 7:05
  and
• 7:05
  the
• 7:05
  results
• 7:06
  are
• 7:06
  absolutely
• 7:06
  splendid.
• 7:07
  They're
• 7:07
  really
• 7:07
  encouraging.
• 7:08
  Very,
• 7:08
  very
• 7:09
  excited
• 7:09
  about
• 7:09
  it.
• 7:10
  Yeah.
• 7:10
  I
• 7:10
  don't
• 7:10
  know
• 7:10
  how
• 7:10
  much
• 7:10
  you
• 7:10
  can
• 7:11
  share
• 7:11
  that,
• 7:11
  but
• 7:11
  one
• 7:11
  thing
• 7:11
  I
• 7:11
  was
• 7:11
  thinking
• 7:12
  about
• 7:12
  as
• 7:12
  you
• 7:12
  were
• 7:12
  talking
• 7:13
  before,
• 7:13
  about
• 7:14
  the
• 7:15
  scale
• 7:15
  of
• 7:15
  your
• 7:15
  distribution
• 7:16
  being
• 7:16
  a
• 7:16
  competitive
• 7:17
  advantage
• 7:17
  for
• 7:17
  you.
• 7:18
  I
• 7:18
  have
• 7:19
  to
• 7:19
  think
• 7:19
  AI
• 7:19
  factors
• 7:20
  into
• 7:21
  that
• 7:21
  in
• 7:21
  terms
• 7:21
  of
• 7:22
  taking
• 7:22
  advantage
• 7:23
  of
• 7:23
  that
• 7:23
  scale
• 7:23
  to
• 7:23
  an
• 7:24
  even
• 7:24
  greater
• 7:24
  degree.
• 7:25
  So
• 7:25
  how
• 7:25
  are
• 7:25
  you
• 7:26
  thinking
• 7:26
  about
• 7:26
  that?
• 7:27
  Well,
• 7:28
  the
• 7:28
  ability
• 7:28
  to
• 7:29
  actually
• 7:29
  have
• 7:29
  so
• 7:29
  many
• 7:30
  touch
• 7:30
  points
• 7:30
  is
• 7:30
  an
• 7:30
  opportunity
• 7:31
  to
• 7:31
  capture
• 7:32
  data
• 7:32
  on
• 7:32
  consumers
• 7:33
  at
• 7:33
  every
• 7:33
  single
• 7:34
  point.
• 7:34
  And
• 7:34
  if
• 7:35
  you
• 7:35
  think
• 7:35
  that
• 7:35
  AI
• 7:36
  is
• 7:36
  an
• 7:36
  enabler
• 7:37
  to
• 7:37
  evaluate
• 7:38
  data
• 7:39
  across
• 7:39
  all
• 7:40
  those
• 7:40
  different
• 7:40
  touch
• 7:41
  points,
• 7:41
  the
• 7:42
  amount
• 7:42
  of
• 7:42
  segmentation
• 7:43
  that
• 7:43
  you
• 7:43
  can
• 7:43
  do
• 7:44
  of
• 7:44
  that
• 7:44
  data
• 7:44
  will
• 7:44
  enable
• 7:45
  you
• 7:45
  to
• 7:45
  get
• 7:45
  insights
• 7:46
  that
• 7:46
  run
• 7:47
  your
• 7:47
  business
• 7:47
  with
• 7:48
  much
• 7:48
  more
• 7:48
  impact.
• 7:49
  And
• 7:49
  that's
• 7:49
  exactly
• 7:50
  what
• 7:50
  we
• 7:50
  really
• 7:50
  want
• 7:51
  to
• 7:51
  be
• 7:51
  doing
• 7:52
  into
• 7:52
  the
• 7:52
  future.
• 7:53
  Now,
• 7:53
  it's
• 7:53
  not
• 7:53
  easy
• 7:54
  and
• 7:54
  it's
• 7:55
  not
• 7:55
  a
• 7:55
  journey
• 7:56
  that
• 7:56
  everybody
• 7:56
  can
• 7:57
  actually
• 7:57
  do
• 7:57
  because
• 7:57
  it
• 7:57
  costs
• 7:58
  quite
• 7:58
  a
• 7:58
  lot
• 7:58
  of
• 7:58
  money.
• 7:59
  You've
• 7:59
  got
• 7:59
  to
• 7:59
  make
• 8:00
  sure
• 8:00
  that
• 8:00
  you're
• 8:00
  actually
• 8:00
  doing
• 8:01
  it
• 8:01
  in
• 8:01
  a
• 8:01
  way
• 8:01
  that
• 8:02
  is
• 8:02
  efficient
• 8:03
  and
• 8:03
  with
• 8:03
  a
• 8:04
  mindset
• 8:04
  of
• 8:04
  return
• 8:05
  on
• 8:05
  investment.
• 8:06
  And
• 8:06
  you've
• 8:06
  got
• 8:06
  to
• 8:07
  make
• 8:07
  sure
• 8:07
  that
• 8:07
  all
• 8:08
  those
• 8:08
  data
• 8:08
  points
• 8:09
  are
• 8:09
  used
• 8:10
  in
• 8:10
  the
• 8:10
  right
• 8:10
  way,
• 8:11
  stored
• 8:11
  data
• 8:11
  in
• 8:12
  the
• 8:12
  right
• 8:12
  places.
• 8:13
  It's
• 8:13
  a
• 8:13
  journey
• 8:14
  that
• 8:14
  will
• 8:14
  take
• 8:14
  time,
• 8:15
  but
• 8:16
  we're
• 8:16
  really
• 8:16
  enthusiastic
• 8:17
  about
• 8:17
  the
• 8:18
  opportunities
• 8:18
  that
• 8:18
  it
• 8:19
  brings.
• 8:19
  Well,
• 8:20
  Pawel,
• 8:20
  let's
• 8:21
  close
• 8:21
  with
• 8:21
  this
• 8:21
  question.
• 8:22
  Of
• 8:23
  all
• 8:23
  the
• 8:23
  things
• 8:23
  you
• 8:24
  just
• 8:24
  talked
• 8:24
  about,
• 8:24
  what
• 8:25
  are
• 8:25
  you
• 8:25
  most
• 8:25
  excited
• 8:26
  about
• 8:26
  in
• 8:26
  the
• 8:27
  next
• 8:27
  12
• 8:27
  months
• 8:27
  at
• 8:28
  Danone?
• 8:29
  What
• 8:29
  I'm
• 8:30
  most
• 8:30
  excited
• 8:30
  about
• 8:31
  is
• 8:33
  I
• 8:33
  think
• 8:33
  Danone
• 8:34
  went
• 8:34
  through
• 8:34
  a
• 8:34
  phase
• 8:35
  in
• 8:35
  which
• 8:35
  the
• 8:36
  people
• 8:36
  of
• 8:36
  Danone
• 8:37
  did
• 8:37
  not
• 8:38
  have
• 8:38
  the
• 8:38
  same
• 8:38
  pride
• 8:39
  as
• 8:39
  when
• 8:40
  Danone
• 8:40
  was
• 8:41
  at
• 8:41
  its
• 8:41
  best.
• 8:41
  Oh,
• 8:42
  really?
• 8:42
  And
• 8:42
  I'm
• 8:43
  starting
• 8:43
  to
• 8:43
  feel
• 8:44
  the
• 8:44
  pride
• 8:44
  of
• 8:45
  the
• 8:45
  people
• 8:45
  coming
• 8:45
  back,
• 8:46
  the
• 8:46
  energy
• 8:47
  coming
• 8:47
  back.
• 8:48
  And
• 8:48
  it's
• 8:48
  very
• 8:49
  nice
• 8:49
  to
• 8:49
  be
• 8:49
  leading
• 8:50
  a
• 8:50
  team
• 8:51
  that
• 8:51
  is
• 8:51
  actually
• 8:52
  very
• 8:52
  excited
• 8:53
  about
• 8:53
  what
• 8:53
  they
• 8:53
  do,
• 8:54
  bringing
• 8:54
  back
• 8:55
  the
• 8:55
  results,
• 8:55
  bringing
• 8:56
  back
• 8:56
  the
• 8:56
  company
• 8:57
  to
• 8:57
  growth,
• 8:58
  bringing
• 8:58
  back
• 8:58
  the
• 8:58
  volume
• 8:59
  every
• 8:59
  day.
• 8:59
  We've
• 9:00
  now
• 9:00
  had
• 9:01
  six
• 9:01
  consecutive
• 9:02
  volume
• 9:03
  mix
• 9:03
  wins
• 9:03
  in
• 9:04
  a
• 9:04
  row.
• 9:04
  Wow.
• 9:05
  And
• 9:05
  I
• 9:05
  think
• 9:05
  this
• 9:05
  is
• 9:06
  actually
• 9:06
  a
• 9:06
  company
• 9:06
  that
• 9:07
  is
• 9:07
  gaining
• 9:07
  momentum
• 9:08
  to
• 9:08
  take
• 9:08
  a
• 9:08
  big
• 9:08
  leap.
• 9:09
  And
• 9:09
  I
• 9:09
  think
• 9:10
  we
• 9:10
  got
• 9:10
  to
• 9:10
  be
• 9:11
  considered
• 9:11
  as,
• 9:12
  you
• 9:12
  know,
• 9:12
  one
• 9:12
  of
• 9:12
  the
• 9:12
  places
• 9:13
  to
• 9:13
  be
• 9:13
  and,
• 9:14
  you
• 9:14
  know,
• 9:14
  proof
• 9:15
  point
• 9:15
  of
• 9:15
  that
• 9:15
  is
• 9:16
  you
• 9:16
  get
• 9:16
  more
• 9:16
  CVs
• 9:17
  every
• 9:17
  day,
• 9:18
  right?
• 9:18
  You
• 9:18
  get
• 9:18
  people
• 9:19
  saying,
• 9:19
  hey,
• 9:19
  my
• 9:19
  son
• 9:20
  wants
• 9:20
  to
• 9:20
  work
• 9:20
  over
• 9:21
  there.
• 9:22
  And
• 9:22
  that's
• 9:22
  the
• 9:22
  type
• 9:22
  of
• 9:23
  stuff
• 9:23
  which
• 9:23
  I
• 9:23
  think
• 9:24
  gives
• 9:24
  us
• 9:24
  a
• 9:24
  lot
• 9:24
  of
• 9:25
  pride
• 9:25
  and
• 9:25
  gives
• 9:25
  us
• 9:25
  a
• 9:26
  lot
• 9:26
  of
• 9:26
  energy
• 9:26
  to
• 9:26
  keep
• 9:27
  going
• 9:27
  and
• 9:27
  keep
• 9:27
  reinventing
• 9:28
  ourselves
• 9:28
  and
• 9:29
  keep
• 9:29
  launching
• 9:29
  new
• 9:29
  innovation
• 9:30
  and
• 9:30
  getting
• 9:30
  better
• 9:31
  every
• 9:31
  day.
• 9:31
  What
• 9:32
  changed,
• 9:32
  Pablo?
• 9:32
  Like,
• 9:33
  what's
• 9:33
  in
• 9:33
  the
• 9:33
  water?
• 9:33
  Or
• 9:33
  better
• 9:34
  yet,
• 9:34
  what's
• 9:34
  in
• 9:34
  the
• 9:34
  yogurt?
• 9:35
  Like
• 9:35
  what?
• 9:35
  What's
• 9:35
  changed
• 9:36
  that's
• 9:36
  driven
• 9:36
  that?
• 9:37
  Well,
• 9:37
  we've
• 9:37
  got
• 9:37
  a
• 9:37
  new
• 9:38
  CEO
• 9:38
  that
• 9:38
  actually
• 9:39
  came
• 9:39
  in
• 9:39
  a
• 9:39
  little
• 9:40
  bit
• 9:40
  before
• 9:40
  me.
• 9:41
  We
• 9:41
  got
• 9:42
  a
• 9:42
  team
• 9:42
  that
• 9:42
  is
• 9:43
  actually
• 9:43
  a
• 9:43
  stupendous
• 9:44
  team
• 9:44
  working
• 9:44
  behind
• 9:45
  everything
• 9:45
  that
• 9:46
  we
• 9:46
  do.
• 9:46
  Our
• 9:47
  sales
• 9:47
  team
• 9:47
  is
• 9:47
  stepping
• 9:48
  up
• 9:48
  like
• 9:48
  there's
• 9:49
  no
• 9:49
  tomorrow.
• 9:50
  And
• 9:50
  I
• 9:50
  really,
• 9:50
  really
• 9:50
  like
• 9:51
  the
• 9:51
  energy
• 9:51
  that
• 9:51
  they
• 9:52
  put
• 9:52
  into
• 9:52
  it.
• 9:52
  But
• 9:53
  you
• 9:53
  can
• 9:53
  actually
• 9:54
  see
• 9:54
  the
• 9:54
  capabilities
• 9:55
  that
• 9:55
  we're
• 9:56
  building
• 9:56
  are
• 9:57
  starting
• 9:57
  to
• 9:57
  be
• 9:58
  there.
• 9:59
  And
• 9:59
  I
• 10:00
  think
• 10:00
  that
• 10:00
  all
• 10:00
  of
• 10:01
  these
• 10:01
  changes
• 10:01
  put
• 10:01
  together
• 10:02
  is
• 10:03
  what
• 10:03
  creates
• 10:03
  momentum.
• 10:04
  I
• 10:04
  don't
• 10:04
  think
• 10:04
  you
• 10:04
  can
• 10:05
  actually
• 10:05
  say
• 10:05
  that
• 10:05
  it's
• 10:06
  one
• 10:06
  person
• 10:06
  or
• 10:07
  one
• 10:07
  thing
• 10:07
  or
• 10:07
  one
• 10:07
  capability.
• 10:08
  It's
• 10:09
  a
• 10:09
  lot
• 10:09
  of
• 10:09
  different
• 10:09
  people
• 10:10
  working
• 10:10
  together.
• 10:11
  Yeah.
• 10:11
  And
• 10:11
  the
• 10:11
  power
• 10:12
  of
• 10:12
  the
• 10:12
  collective
• 10:12
  is
• 10:13
  really
• 10:13
  making
• 10:13
  us
• 10:13
  great.
• 10:14
  Right.
• 10:14
  And
• 10:14
  the
• 10:14
  power
• 10:14
  of
• 10:14
  the
• 10:14
  mission,
• 10:15
  too.
• 10:15
  Yeah,
• 10:15
  I
• 10:15
  was
• 10:15
  going
• 10:16
  to
• 10:16
  say
• 10:16
  power.
• 10:16
  The
• 10:16
  mission
• 10:17
  is
• 10:17
  very
• 10:17
  strong
• 10:17
  and
• 10:17
  palpable
• 10:18
  again
• 10:18
  right
• 10:18
  now,
• 10:18
  given
• 10:19
  what's
• 10:19
  going
• 10:19
  on
• 10:19
  in
• 10:19
  the
• 10:19
  industry
• 10:20
  as
• 10:20
  well.
• 10:20
  Nobody
• 10:21
  has
• 10:21
  a
• 10:21
  portfolio
• 10:22
  in
• 10:22
  the
• 10:22
  industry
• 10:23
  where
• 10:23
  almost
• 10:24
  90%
• 10:24
  of
• 10:25
  its
• 10:25
  products
• 10:26
  are
• 10:26
  of
• 10:27
  health
• 10:27
  star
• 10:27
  rating
• 10:28
  healthy.
• 10:30
  And
• 10:30
  this
• 10:30
  is
• 10:30
  very,
• 10:30
  very
• 10:31
  powerful
• 10:31
  because
• 10:31
  you're
• 10:32
  working
• 10:32
  to
• 10:32
  a
• 10:32
  mission.
• 10:33
  That
• 10:33
  is
• 10:33
  really
• 10:33
  true.
• 10:34
  Right.
• 10:35
  And
• 10:35
  if
• 10:35
  you
• 10:35
  look
• 10:35
  around,
• 10:36
  not
• 10:36
  many
• 10:36
  people
• 10:37
  have
• 10:37
  that
• 10:37
  type
• 10:37
  of
• 10:37
  a
• 10:38
  portfolio,
• 10:38
  and
• 10:39
  probably
• 10:39
  not
• 10:39
  the
• 10:40
  same
• 10:40
  type
• 10:40
  of
• 10:40
  pride
• 10:40
  when
• 10:41
  they
• 10:41
  actually
• 10:42
  make
• 10:42
  sure
• 10:42
  they
• 10:42
  get
• 10:42
  one
• 10:43
  more
• 10:43
  consumer
• 10:44
  right.
• 10:44
  It's
• 10:44
  giving
• 10:45
  purpose
• 10:45
  to
• 10:45
  people
• 10:46
  working
• 10:46
  in
• 10:46
  the
• 10:46
  FMCG
• 10:47
  space.
• 10:48
  That's
• 10:49
  very
• 10:49
  unique,
• 10:49
  I
• 10:50
  think,
• 10:50
  still,
• 10:50
  and
• 10:50
  probably
• 10:51
  why
• 10:51
  you're
• 10:51
  getting
• 10:51
  so
• 10:51
  many
• 10:52
  of
• 10:52
  those
• 10:52
  CVs.
• 10:53
  It
• 10:53
  makes
• 10:53
  it
• 10:53
  a
• 10:53
  little
• 10:53
  bit
• 10:54
  easier
• 10:54
  to
• 10:54
  do
• 10:55
  work
• 10:55
  that
• 10:55
  you
• 10:55
  feel
• 10:56
  purpose
• 10:56
  driven
• 10:56
  by.
• 10:58
  You
• 10:58
  can
• 10:58
  galvanize
• 10:59
  people
• 10:59
  around
• 11:00
  that
• 11:00
  mission
• 11:00
  pretty
• 11:01
  easily,
• 11:01
  so.
• 11:01
  Well,
• 11:01
  thank
• 11:02
  you,
• 11:02
  Pablo.
• 11:02
  Yeah.
• 11:03
  Thanks
• 11:03
  for
• 11:03
  spending
• 11:03
  time
• 11:03
  with
• 11:03
  us
• 11:04
  today
• 11:04
  to
• 11:04
  close
• 11:04
  us
• 11:04
  out.
• 11:05
  It's
• 11:05
  getting
• 11:05
  quiet
• 11:06
  here
• 11:06
  at
• 11:06
  the
• 11:06
  conference
• 11:07
  center,
• 11:07
  but
• 11:07
  Pablo
• 11:07
  stuck
• 11:08
  around
• 11:08
  with
• 11:08
  us.
• 11:08
  We
• 11:08
  appreciate
• 11:09
  his
• 11:09
  time.
• 11:09
  And
• 11:10
  we'll
• 11:10
  be
• 11:10
  back
• 11:10
  all
• 11:11
  day
• 11:11
  tomorrow
• 11:11
  with
• 11:12
  more
• 11:12
  interviews
• 11:12
  live
• 11:13
  from
• 11:13
  the
• 11:13
  Fusion
• 11:14
  Group
• 11:14
  booth
• 11:14
  at
• 11:14
  the
• 11:15
  Consumer
• 11:15
  Goods
• 11:15
  Forum.
• 11:16
  And
• 11:16
  until
• 11:16
  then,
• 11:16
  Ann,
• 11:17
  be
• 11:17
  careful
• 11:17
  out
• 11:18
  there.