NORTHFIELD, Ill. — Ahead of its planned spin-off completion buy the end of 2012, Kraft Foods Inc. has announced the leadership of its future companies.
Irene Rosenfeld, chairman and CEO of Kraft Foods, will be chairman and chief executive officer of the $31 billion global snacks company. W. Anthony Vernon, executive vice president and president of Kraft Foods North America, will be chief executive officer of the $17 billion North American grocery company. John Cahill, an industrial partner of the private equity firm Ripplewood Holdings LLC, will become non-executive chairman of the North American grocery company. He will join Kraft 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 of Kraft Foods 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.”