Food Business News - February 24, 2015 - (Page 19)

More c-suite change at Kraft Foods NORTHFIELD, ILL. - Sweeping changes are under way at Kraft Foods Group, beginning with upper management. After company earnings tumbled 62% in the recent fiscal year, Kraft's chairman and newly named chief executive officer has reshuffled his leadership team. John Cahill, who replaced Tony Vernon in December, on Feb. 12 announced the reorganization and hinted at streamlining and other strategic moves in the months ahead. George Zoghbi, currently vice-chairman of operations, R.&D., sales and strategy, has been named chief operating officer. Mr. Zoghbi will oversee Kraft's U.S. business units. Chris Kempczinski, who spend time with our customers and business partners to develop a well-informed comprehensive plan that will accelerate the pace of change and put Kraft on a clear path to long-term sustainable growth," Mr. Cahill said. "I look forward to coming back to you with additional perspective on our business and our potential. "My target is to provide our plans to investors in the second quarter." FBN Make the healthy choice with Didion. John Cahill currently leads the company's Canada business unit, will assume expanded responsibilities in a newly created role as executive vice-president of growth initiatives and president of international. Teri List-Stoll, executive vice-president and chief financial officer; Deanie Elsner, executive vice-president and chief marketing officer; and Chuck Davis, executive vice-president of research, development, quality and innovations are all leaving the company. Net income for the year ended Dec. 27, 2014, totaled $1,043 million, equal to $1.75 per share on the common stock, down from $2,715 million, or $4.55 per share, for fiscal 2013. Net revenues for the year were relatively flat at $18,205 million, which compared with $18,218 million the year before. Over the coming months, Mr. Cahill plans to work with the management team and become more immersed in the business. "Now I may continue to make some decisions along the way, but I plan to use this time to really get under the hood and February 24, 2015 without all the extra baggage. (913)USINESSNEWS FOODB 484-3452 19 ®

Table of Contents for the Digital Edition of Food Business News - February 24, 2015

Food Business News - February 24, 2015
General Mills accepts the C.P.G. challenge
Gluten-free front and center
Mexican trade rift looms over Sweetener Colloquium
Table of Contents
Web Contents
Editorial - Subscription models may offer unique marketing opportunities
Confectionery companies switching to simpler ingredients
McCormick to acquire Italian spices and seasonings company
Mondelez has big plans to grow small platforms
WhiteWave Foods ‘busting at the seams'
More c-suite change at Kraft Foods
Keurig in transition
Mondelez acquires Enjoy Life Foods
Innovation paying for PepsiCo
TreeHouse Foods trims expectations
Kraft cleans up Capri Sun
Washington - Federal bills seek to mandate G.M.O. food labeling
Company Profile - Dr Pepper Snapple Group seizing opportunities
Capitalizing on R.C.I.
Ingredient Innovations - Clean label starches get tougher
Are clean labels and G.M.O. ingredients compatible?
More clean label ingredient opportunities
Dairy Business News - Yogurt, the next generation
New Food Products
Ingredient Market Trends - Belt-tightening time for U.S. agriculture in 2015-16
Ingredient Markets
Supplier Innovations and News
Ad Index
Food Business in the News

Food Business News - February 24, 2015