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PORTLAND, Ore. (AP) - Cereal and snack maker Kellogg Co. (K) (K) says it will not renew its sponsorhip contract with Olympic swimmer Michael Phelps because he has acknowledged smoking marijuana last fall.
The Battle Creek, Mich.-based company said Thursday that Phelps's behavior - caught on camera and published Sunday - is "not consistent with the image of Kellogg."
The company put Phelps on boxes of its Frosted Flakes and Corn Flakes.
Phelps has kept the backing of many sponsors since the photos surfaced that showed him inhaling from a marijuana pipe....