Sector News

Kraft Heinz Promotes 29-Year-Old David Knopf to CFO

September 11, 2017
Consumer Packaged Goods

Heinz ketchup maker Kraft Heinz said on Friday 3G Capital partner and Goldman Sachs alum David Knopf, 29, would replace Paulo Basilio as its chief financial officer, starting in October.

Kraft Heinz , backed by billionaire investor Warren Buffett and private equity firm 3G Capital, also said Basilio would become president of its U.S. business, while Chief Operating Officer George Zoghbi will transition to a strategic adviser role. The leadership changes come as the global food giant tries to reignite growth, Bloomberg reports. Earlier this year Kraft Heinz and other big food makers blamed soft sales on declining interest in packaged foods in the U.S.

Knopf, 29, currently the vice president and category head of Kraft Heinz ‘s Planters nuts business, has worked with 3G Capital on mergers involving companies such as Burger King and H.J. Heinz Co. 3G Capital orchestrated the Heinz and Kraft Foods Inc. merger back in 2015.

Source: Fortune

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