Irene B. Rosenfeld, 58, currently Chairman and CEO of Kraft Foods, will be Chairman and CEO of the global snacks company, with $31 billion in estimated revenue and a significant presence in numerous fast-growing, international markets.
KRAFT FOODS ANNOUNCES TOP LEADERSHIP OF FUTURE INDEPENDENT COMPANIES
NORTHFIELD, Ill. – Dec. 5, 2011 – In the next step toward launching two world-class public companies, the Kraft Foods Inc. Board of Directors today announced the appointments of the Chairmen and Chief Executive Officers of the future global snacks and North American grocery companies. As previously announced, the company expects to complete the spin-off by the end of 2012.
When the new companies launch:
- Irene B. Rosenfeld, 58, currently Chairman and CEO of Kraft Foods, will be Chairman and CEO of the global snacks company, with $31 billion1 in estimated revenue and a significant presence in numerous fast-growing, international markets.
- W. Anthony (Tony) Vernon, 55, currently Executive Vice President and President, Kraft Foods North America, will become Chief Executive Officer of the $17 billion1 North American grocery company, one of the largest food and beverage companies on the continent.
- John T. Cahill, 54, currently an Industrial Partner of private equity firm Ripplewood Holdings LLC, will become Non-Executive Chairman of the North American grocery company. Initially, he will serve as Executive Chairman, reflecting the tremendous effort required to launch and transition to a public company. Cahill will join Kraft Foods in January to begin work on the separation.
“Irene, John and Tony are three of the finest executives in business today,” said Mark Ketchum, Lead Director, Kraft Foods Inc. Board of Directors. “Their commitment to shareholder value, passion for brands and focus on sound financial management give the Board great confidence in the future of the snacks and grocery companies.”
About Irene Rosenfeld
With nearly 30 years of experience in the food and beverage industry, Irene Rosenfeld drives business results by understanding consumer needs, constantly innovating and making truly delicious foods.
Irene came home to Kraft Foods in June 2006 as CEO and became Chairman in March 2007, following the company’s spin off from Altria Group. Since then, Irene has fundamentally changed the face, footprint and prospects of Kraft Foods. She has successfully repositioned the company to deliver consistent top-tier growth by reinvigorating iconic brands, transforming the portfolio and strengthening the company’s presence in fast-growing developing markets. The 2011 decision to create two independent public companies – a high-margin North American Grocery business and a high-growth Global Snacks business – is the next exciting step in the company’s evolution. Irene will lead the Global Snacks business as Chairman and CEO following the spin-off in 2012.
Irene began her career in consumer research, then joined General Foods, which later became part of Kraft Foods. Irene led the restructuring and turnaround of key businesses in the U.S., Canada and Mexico. She served on the team that spearheaded the company’s IPO in 2001, and successfully integrated the Nabisco, LU and Cadbury businesses.
Irene took a short break from Kraft Foods in 2004, serving for two years as Chairman and CEO of Frito-Lay. While there, she accelerated growth in better-for-you products and health and wellness offerings. The Financial Times and Fortune recently ranked Irene No. 1 on their “Top 50 Women in Global Business” and “50 Most Powerful Women in Business” lists, respectively. Forbes has named Irene as one of the world’s “100 Most Powerful Women” for several years.
Irene holds a Ph.D. in Marketing and Statistics, an MS in Business Administration and a BA in Psychology – all from Cornell University. She is active in a number of industry and community organizations, including The Economic Club of Chicago. She also serves on the Grocery Manufacturers Association Board of Directors and Cornell’s Board of Trustees.
Quelle Kraft Foods