Kraft Moves Up CEO Start Date, Shifts Executives

By Patrick Thomas

Kraft Heinz Co. (KHC) is moving up the start date for its new chief executive, Miguel Patricio, to Tuesday from July 1, the company said in a securities filing.

Mr. Patricio, the former chief marketing officer of brewer Anheuser-Busch InBev SA, was named Kraft's CEO in April. The new CEO will succeed Bernardo Hees and he is taking the helm of the food giant amid weak sales and a federal investigation into the company's procurement practices. The company said his first day as CEO was moved up due to the July 4 holiday.

Kraft also said Mr. Patricio will assume the role of interim U.S. zone president and Paulo Basilio, who currently holds the position, will be the newly created chief business planning and development officer, effective July 1.

The company also said Rafael Oliveira, zone president of Kraft's Europe, Middle East and Africa segment, will assume a new role as Kraft's international zone president.

Write to Patrick Thomas at patrick.thomas@wsj.com

(END) Dow Jones Newswires

June 25, 2019 17:52 ET (21:52 GMT)

Kraft Heinz (NASDAQ:KHC)
Historical Stock Chart
From Mar 2024 to Apr 2024