KHC Kraft Heinz Company

By Kimberly Chin

Kraft Heinz Co. (KHC) said Monday that Flavio Torres will join the company as head of global operations.

In this role, Mr. Torres will be in charge of manufacturing, logistics and quality across the company's global operations.

Mr. Torres joins the company from Anheuser-Busch Inbev SA/NV, where he served as vice president of global operations from 2017 to 2019, and as a vice president of supply chain at Ambev SA, a subsidiary of Anheuser-Busch before that.

Mr. Torres will receive an annual salary of $455,000 and an annual incentive of as much as 175% of his base salary, according to securities filings.

He will also receive a one-time equity grant of about $6 million in value, in addition to a one-time grant of restricted stock units equal to $455,000. He will be eligible to participate in the company's bonus swap program as well, Kraft Heinz said.

Write to Kimberly Chin at kimberly.chin@wsj.com

(END) Dow Jones Newswires

January 06, 2020 17:47 ET (22:47 GMT)

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