Another high profile departure is that of Mondelēz International CEO Irene Rosenfeld, who is to step down in November, to be succeeded by McCain Foods CEO Dirk Van de Put.
Rosenfeld will remain chairman until March when Van de Put will also assume the role of chairman.
After becoming CEO of Kraft in 2006, Rosenfeld acquired Cadbury for nearly $20bn in 2010 and subsequently split Kraft into two to create Mondelez and Kraft Foods Group (which was later acquired by Heinz).
Pinar Hosafci, senior research analyst at Euromonitor International, said Rosenfeld’s departure came at a time of “stagnant organic sales growth as consumers reach for healthier options over processed foods.
“Most probably Mondelez will follow the big flurry of other FMCG giants such as Nestle and Unilever who are undergoing a massive cost reduction period, especially in the areas of personal cuts and operational management, perhaps even R&D and advertisements.”