Sector News

Kraft Heinz announces leadership changes

August 27, 2019
Food & Drink

Get involved in the discussion! Click here to comment on this story

Paulo Basilio is shifting back into the role of global chief financial officer at The Kraft Heinz Co.

Mr. Basilio joined H.J. Heinz Holding Corp. as chief financial officer in 2013. He was named executive vice-president and chief financial officer in 2015, following Heinz’s merger with Kraft Foods Group, Inc. He held that position until 2017, when he became president of the company’s U.S. commercial business. He was named chief business and planning officer earlier this year.

David Knopf, current executive vice-president and global chief financial officer, is departing the company to return to 3G Capital, where he has been a partner since 2015.

Kraft Heinz also announced that Nina Barton, president of the Canada zone and president of digital growth at Kraft Heinz, will assume the role of chief growth officer. Bruno Keller, currently the head of category development in Canada, will succeed Ms. Barton as zone president of Canada.

The leadership changes come just a few months after Kraft Heinz named Miguel Patricio as chief executive officer. Earlier this month, Kraft Heinz’ stock sank to a record low following the release of second-quarter earnings that executives described as “unacceptable.” Shares of the company trading on Nasdaq closed on Aug. 23 at $25.33, down more than 41% since the beginning of the year, but rebounded a bit on Aug. 26 following news of Mr. Basilio’s return to the c.f.o. post. The company’s stock hit a 52-week low of $24.89 on Aug. 15.

By Sam Danley

Source: Food Business News

Join the discussion!

Your email address will not be published. Required fields are marked *

Related News

November 13, 2019

Unlocking the $1.2 trillion global snacking opportunity

Food & Drink

LinkedIn Twitter FacebookThe average adult eats more snacks than meals on a given day, according to the first-ever State of Snacking report from Mondelez International, Inc. and The Harris Poll. […]

November 13, 2019

Dean Foods files for bankruptcy after decline in milk consumption

Food & Drink

LinkedIn Twitter FacebookUS milk producer Dean Foods Company has announced it has filed for Chapter 11 bankruptcy protection. The Dallas-headquartered company intends to use the process to support its ongoing […]

November 12, 2019

Plant-based has staying power, study says

Food & Drink

LinkedIn Twitter FacebookInterest in plant-based foods isn’t a passing trend, according to a new report from The NPD Group. The study, called The Future of Plant-based Snapshot, found millennials are […]

Subscribe to our Weekly Newsletter

We're easy to reach