Kraft Heinz Says Two Board Members Will Step Down
March 05 2020 - 5:05PM
Dow Jones News
By Micah Maidenberg
Kraft Heinz Co. said it two members of its board won't stand for
reelection at the company's next annual shareholders meeting.
The maker of Velveeta cheese, Heinz ketchup, Oscar Mayer cold
cuts and other food products said Thursday in a filing that Feroz
Dewan and Jeanne Jackson will serve the rest of their current
terms.
The board has nominated Susan Mulder, chief executive of Nic
& Zoe Co., a women's apparel company, and Leoni Sceti,
co-founder and chair of an investment firm focused on
consumer-product brands called the Craftory, to join it.
Ms. Mulder is also a director of Sally Beauty Holdings Inc.
while Mr. Sceti is a director of Barry Callebaut AG and
Anheuser-Busch InBev SA.
Mr. Dewan and Ms. Jackson's decision not to stand for reelection
is "not the result of any disagreement with management or the Board
of Directors of the Company related to our operations, policies or
practices," Kraft Heinz said in a statement.
The company has struggled to lift sales and is now trying to
generate better results under Chief Executive Miguel Patricio, who
took over the top role at the company last summer.
Write to Micah Maidenberg at micah.maidenberg@wsj.com
(END) Dow Jones Newswires
March 05, 2020 16:50 ET (21:50 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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