- Daily News - http://www.candyandsnacktoday.com/archives/ -
Rosenfeld To Lead Kraft’s Global Snacks
Posted By shallo On December 6, 2011 12:05 AM In | No Comments
Northfield, IL — Current chairman and CEO of Kraft Foods Inc. Irene Rosenfeld will continue to head Kraft’s future global snacks company after the split to two independent, publicly traded entities.
Tony Vernon, who currently serves as executive vice-president and president of Kraft Foods North America, will become CEO of the North American grocery business. Serving the new grocery business as non-executive chairman will be John Cahill, who is currently an industrial partner for private equity firm Ripplewood Holdings LLC.
However, Cahill will initially serve as executive chairman to better facilitate the launch and transition to a public company, according to Kraft.
Mark Ketchum, lead director for Kraft’s board of directors, says: “Their commitment to shareholder value, passion for brands and focus on sound financial management gives the board great confidence in the future of the snacks and grocery companies.”
The spin-off is expected to be complete by end of year 2012, Kraft says.
Article printed from Daily News: http://www.candyandsnacktoday.com/archives/
URL to article: http://www.candyandsnacktoday.com/archives/2011/12/rosenfeld-to-lead-krafts-global-snacks.shtml
Copyright © December 6, 2011. All rights reserved.