Alongside Tony Vernon, John Cahill, an industrial partner of private equity firm Ripplewood Holdings LLC, will become non-executive chairman of the North American grocery company.
The company said that he will initially take on the role of executive chairman, starting in January to work on the separation.
"John’s stellar track record in the food and beverage industry includes his service as chairman of a major public company,” said Mark Ketchum, lead director of Kraft's board of directors. “His broad expertise, financial acumen and significant experience in spinning off public companies will contribute greatly to launching and building a free-standing grocery company.”
The company said in a statement that in broad terms, Vernon will lead the business as CEO, and Cahill, as chairman, will focus on public company, financial and strategic matters.