Burger King CEO to lead Heinz
PITTSBURGH — Bernardo Hees will become CEO of the H.J. Heinz Co. after the completion of Berkshire Hathaway and 3G Capital’s acquisition of the company.
Hees is currently CEO of Burger King Worldwide, Inc. and has previously been CEO of America Latina Logistica, Latin America’s largest railroad and logistics company.
“Bernardo is a proven executive with an unparalleled track record of delivering results,” said Alex Behring, managing partner at 3G Capital. “Over the past two and a half years at Burger King, Bernardo grew adjusted EBITDA by 44 percent from $454 million in 2010 to $652 million in 2012 and expanded the company’s adjusted EBITDA margin by 14 percent from 19 percent in 2010 to 33 percent in 2012. His combination of experience, leadership skills and broad understanding of the food industry make him the ideal leader to drive the next chapter in Heinz’s storied history. Bernardo will work closely with Heinz’s current Chairman, president and chief executive officer, Bill Johnson, and the management team to ensure a smooth transition over the coming months.”
Johnson will remain in his current role until the completion of the transaction. 3G Capital and Berkshire Hathaway said they will discuss with Johnson his interest in a continuing role with the company.
The transaction is still subject to shareholder approval and other closing conditions and is expected to close late in the second calendar quarter of 2013 or in the third calendar quarter of 2013.