Kraft Foods Group chairman John Cahill will also take on the role of CEO at the end of this year following the retirement of current CEO Tony Vernon on December 27.
Kraft’s plan to split itself into two standalone business units will help the market see more clearly how its brands are performing and provide greater focus on key categories, says one analyst.
Kraft has officially split into two publicly traded companies: Kraft Foods Group, an $18.7bn North American packaged foods giant with a portfolio of brands including Kraft, Maxwell House, Oscar Mayer, Planters and JELL-O; and Mondelēz International, a...
The days of “spray and pray innovation at Kraft are gone” with “big bet” new products expected to meet more rigorous standards before they are launched in future, says the new boss of Kraft’s North American grocery business.
Kraft Foods reported a 5.4% rise in second quarter net profit, more than offsetting higher raw material costs and adverse effects of currency exchange rates, the company said on Thursday.