Kraft to split in October06 August 2012US food giant Kraft has revealed that the separation of its US grocery and global snacks business will formally take place on 1 October. Kraft, whose bakery portfolio includes Oreo cookies, Ritz crackers and Baker’s Chocolate, confirmed the date after appointing board for US grocery division Kraft Foods Group and global snacks unit Mondelez International. The firm has also announced the appointment Tracey Belcourt as executive director of Mondelez International. Belcourt, who joins from Toronto-based management consultants Bain & Co, will be responsible for mergers and acquisitions. Under the new structure, Belcourt will report to Mondelez International chair and chief executive Irene Rosenfeld. As previously announced, John Cahill will take the position of executive chairman of Kraft Foods Group. Tony Vernon, currently executive vice-president and president of Kraft Foods North America will become chief executive of the US grocery division. | |
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