US: Kraft Heinz names new CEO

Kraft Heinz CEO Bernardo Hees will step down on June 30, marking the embattled company’s most significant executive shakeup since its formation four years ago.

Hees, 49, will be replaced by Miguel Patricio, who worked for two decades at beer giant Anheuser-Busch InBev, including as chief marketing officer from 2012 through last year.

Mr. Patricio said the leadership change, after Mr. Hees led the company for six years, was a natural step in Kraft’s evolution under 3G, a Brazilian investment firm. 3G helped create the firm through the 2015 merger of H.J. Heinz and Kraft Foods, joining forces with Warren Buffett’s Berkshire Hathaway to form the fifth largest food-and-beverage company in the world.

“He was the first one to admit that he was finishing this cycle with the company and that the company would benefit from having a person with a different background to lead it in the future,” Mr. Patricio, who is 52, said in an interview.

Full Content: Wall Street Journal

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