Burger King boss Bernardo Hees to take the helm at Heinz
At this point - likely to be in late June or July - the investment firms will “expect to discuss with Mr. Johnson [Heinz’s current CEO, chairman, and president Bill Johnson - pictured] his interest in a continuing role with the company”, said Heinz in a statement.
3G: ‘Bernardo is a proven executive with an unparalleled track record of delivering results’
Hees, who became CEO at Burger King in September 2010, began an aggressive cost-cutting program shortly after 3G bought the chain, axing about half of the 600 jobs at its Miami HQ.
Alex Behring, Managing Partner at 3G Capital said, "Bernardo is a proven executive with an unparalleled track record of delivering results."
Long-term value creation?
Speaking at a press conference after announcing the Heinz acquisition earlier this year, Behring said it was too early to talk about cost cutting measures, jobs or synergies.
However, "in contrast" to other companies 3G had acquired, Heinz was doing "extremely well", and 3G is interested in "long-term value creation", he stressed.
In addition to its iconic ketchup, Heinz makes Classico spaghetti sauces, Ore-Ida potatoes and Smart Ones frozen meals.
Founded by Henry J Heinz in 1869, it now employs 32,000 people, and generated sales of $11.6bn in 2012, with Europe its biggest market ($3.4bn) followed by the US ($3.2bn).
