NORTHFIELD, Ill., Aug. 2, 2012 /PRNewswire/ -- Kraft Foods
today announced the composition of the boards of directors for the
two independent companies that will be launched at the spin-off of
its North American grocery business, targeted for Oct. 1, 2012.
(Logo: http://photos.prnewswire.com/prnh/20090420/KRAFTLOGO)
Following are the directors who will serve on each company's
board:
Mondelez International, Inc.
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Kraft
Foods Group, Inc
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• Stephen
Bollenbach
•
Lewis Booth
•
Lois Juliber
•
Mark Ketchum
•
Jorge Mesquita
•
Fred Reynolds
•
Irene Rosenfeld
•
Ruth Simmons
•
Jean-Francois van Boxmeer
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•
Abelardo Bru
•
John Cahill
•
Kevin Cox
•
Myra Hart
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Peter Henry
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Jeanne Jackson
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Terry Lundgren
•
Mackey McDonald
•
Jack Pope
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Follin Smith
•
Tony Vernon
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As previously announced, Rosenfeld will be Chairman and Chief
Executive Officer of the global snacks company, Mondelez
International, Inc. Cahill will be Executive Chairman of the North
American grocery company, Kraft Foods Group, Inc., and Vernon, currently Executive Vice President and
President, Kraft Foods North America, will be CEO.
"As we start a new chapter in our history, I'm delighted that
the boards will include both current Kraft Foods Inc. directors who
will provide continuity as well as new individuals who will bring
fresh perspectives," Rosenfeld said. "All of these directors are
committed to strong corporate governance and bring a terrific mix
of leadership skills and business experiences to drive the
long-term success of both companies."
The final effective date and terms of the spin-off of Kraft
Foods Group are subject to the approval by the Kraft Foods Inc.
board of directors and satisfaction or waiver of other
conditions.
Mondelez International, Inc.
In addition to Rosenfeld, the following individuals will serve
on the Mondelez International, Inc. board of directors:
- Stephen Bollenbach, 70,
served as Co-Chairman and Chief Executive Officer of Hilton Hotels
Corporation from May 2004 until his
retirement in October 2007, and
served as President and CEO from February
1996 to May 2004. Prior to that, he served as Senior
Executive Vice President and Chief Financial Officer of The Walt
Disney Company from September 1995 to
February 1996. Bollenbach spent the
previous 30 years in various financial leadership positions in the
hospitality, real estate and financial services industries.
- Lewis Booth, CBE, 63,
served as EVP and CFO of the Ford Motor Company from November 2008 until his retirement in
April 2012. He was EVP, Ford of
Europe, Volvo Car Corporation and
Ford Export Operations and Global Growth Initiatives and EVP of
Ford's Premier Automotive Group, from 2005 to 2008. Prior to
that, Booth held various executive leadership positions with Ford,
including as Chairman and Chief Executive of Ford of Europe, President of Mazda Motor Corporation
and President of Ford Asia Pacific and Africa Operations. He
was employed continuously by the Ford Motor Company in positions of
increasing responsibility since 1978.
- Lois Juliber, 63, Kraft
Foods Inc. director since 2007, served as a Vice Chairman of the
Colgate-Palmolive Company from July
2004 until April 2005. She
served as Colgate-Palmolive's Chief Operating Officer from
March 2000 to July 2004, EVP – North
America and Europe from
1997 until March 2000 and President
of Colgate North America from 1994
to 1997. Prior to joining Colgate-Palmolive, Juliber spent 15 years
at General Foods Corporation, in a variety of key marketing and
general management positions.
- Mark Ketchum, 62, Kraft
Foods Inc. director since 2007 and Lead Director since 2009, served
as President and CEO of Newell Rubbermaid Inc. from October 2005 to June
2011 and was a member of its board of directors from
November 2004 to May 2012. From 1999 to 2004, Ketchum was
President, Global Baby and Family Care of The Procter & Gamble
Company. Ketchum joined P&G in 1971, where he served in a
variety of roles, including VP and General Manager – Tissue/Towel
from 1990 to 1996 and President–North American Paper Sector from
1996 to 1999.
- Jorge Mesquita, 50, Kraft
Foods Inc. director since May 2012,
has been employed continuously by P&G in various marketing and
leadership capacities since 1984. He has served as Group President
– New Business Creation and Innovation since March 2012. He
was Group President, Global Fabric Care from 2007 to 2011 and
President, Global Home Care from 2001 to 2007, also serving as
President of Commercial Products and President of P&G
Professional from 2006 to 2007.
- Fredric Reynolds, 61,
Kraft Foods Inc. director since 2007, served as EVP and CFO of CBS
Corporation from January 2006 until
his retirement in August 2009. From
2001 until 2006, Reynolds served as President and CEO of Viacom
Television Stations Group and EVP and CFO of the businesses that
comprised Viacom Inc. He also served as EVP and CFO of CBS
Corporation and its predecessor, Westinghouse Electric Corporation,
from 1994 to 2000. Prior to that, Reynolds served in various
capacities with PepsiCo, Inc. for 12 years, including CFO at Pizza
Hut, Pepsi Cola International, Kentucky Fried Chicken Worldwide and
Frito-Lay.
- Ruth Simmons, 67, is
President Emerita of Brown University
and Professor of Comparative Literature and Africana Studies since
2001. Prior to that, Simmons served as President, Smith College from 1995 to 2001 and Vice Provost of
Princeton University from 1991 to 1995.
She served in various administrative positions at colleges and
universities since 1977, including the University of Southern California from 1979 to
1983, Princeton University from 1983 to
1989 (and again from 1991 to 1995) and Spelman
College from 1989 to 1991.
- Jean-Francois van
Boxmeer, 50, Kraft Foods Inc. director since 2010.
Van Boxmeer has been Chairman of the
Executive Board and CEO of Heineken N.V. since 2005 and a member of
its Executive Board since 2001. He has been employed continuously
by Heineken in various capacities since 1984, including as General
Manager of Heineken Italia from 2000
to 2001.
Kraft Foods Group, Inc.
In addition to Cahill and Vernon,
the following individuals will serve on the board of directors of
Kraft Foods Group, Inc.:
- Abelardo Bru, 63, served
as Vice Chairman of PepsiCo, Inc. from 2004 until his retirement in
February 2005. Prior to that, he
served as Chairman and CEO, Frito-Lay North
America from 2003 until 2004 and President and CEO,
Frito-Lay North America, from 1999
to 2003. Bru was employed continuously by PepsiCo in various
capacities since 1976, including as President and General Manager
of Sabritas Mexico, PepsiCo's largest international business, from
1992 to 1999. Bru has served on the boards of Office Depot and the
SC Johnson Company and currently serves as Chairman of the
Compensation Committee on the Kimberly-Clark board of
directors.
- Kevin Cox, 48, has served
as EVP, Human Resources of the American Express Company since
April 2005. Prior to that, Cox spent
16 years at PepsiCo and Pepsi Bottling Group, where he served in a
variety of human resources leadership positions. At Pepsi Bottling
Group, Cox also had responsibility for strategy, business
development and technology, in addition to human resources.
- Myra Hart, 71, Kraft
Foods Inc. director since 2007, joined the faculty of the
Harvard Business School in 1995 as a
professor of management practice and retired to its senior faculty
in 2008. From 1985 until 1990, Hart was a member of the team that
founded Staples, Inc., leading operations, strategic planning and
growth implementation in new and existing markets. She was Director
of Marketing for Star Market, a
division of SUPERVALU Inc., from 1983 to 1985.
- Peter Henry, 42, Kraft
Foods Inc. director since 2011, has been Dean of the Leonard N.
Stern School of Business at New York
University since January 2010.
Prior to that, Henry was on the faculty at Stanford University since 1997, where he held
various positions, including Konosuke Matsushita Professor of
International Economics, John and Cynthia Fry Gunn Faculty Scholar
and Associate Director of the Stanford Center for Global Business
and the Economy from 2008 to 2009, Professor of Economics from 2007
to 2008 and Tenured Associate Professor of Economics from 2005 to
2007.
- Jeanne Jackson, 60, has
served as President of Direct to Consumer for NIKE, Inc. since
March 2009. Prior to that, she served
as the CEO of MSP Capital from January
2002 to March 2009 and CEO of
Wal-Mart.com USA, LLC, from
April 2000 to January 2002. Jackson served as President and CEO
of the Banana Republic division of The Gap, Inc. from July 1995 to March
2000 and simultaneously as CEO for the Direct division, The
Gap, Inc. from November 1998 to
March 2000.
- Terry Lundgren, 60, Kraft
Foods Inc. director since May 2012,
has served as President and CEO of Macy's, Inc. since 2003 and has
served as a director since 1997, becoming Chairman of the Board in
2004. Prior to that, he served as the President and Chief Operating
Officer from 2002 to 2003, President and Chief Merchandising
Officer from 1997 until 2002 and Chairman and CEO, Federated
Merchandising Group from 1994 until 1997. Prior to that, Lundgren
was with The Neiman Marcus Group from 1988 to 1994, serving as
Chairman and CEO, Neiman Marcus
Stores from 1990 to 1994.
- Mackey McDonald, 65,
Kraft Foods Inc. director since 2010, has served as a senior
advisor to Crestview Partners since 2008. He served as CEO of VF
Corporation from 1996 to January 2008
and as President from 1993 to 1996. He also served as a director of
VF Corporation from 1993 and as Chairman from 1998 until he retired
in August 2008.
- Jack Pope, 63, Kraft
Foods Inc. director since 2001, has served as Chairman of PFI
Group, LLC, since July 1994. From
December 1995 to November 1999, Pope was Chairman of the Board of
MotivePower Industries, Inc. Prior to that, Pope served in various
capacities with United Airlines and its parent, UAL Corporation,
including as Director, Vice Chairman, President, Chief Operating
Officer, CFO and EVP, Marketing and Finance.
- Follin Smith, 52, served
as EVP, CFO and Chief Administrative Officer of Constellation
Energy Group, Inc., from December
2003 to May 2007, and as EVP
and CFO from June 2001 to December
2003. Prior to that, she served as SVP and CFO of Armstrong
World Industries Inc. from March 2000
to March 2001 and as VP and Treasurer
from August 1998 to February
2000. Smith spent 13 years with the General Motors
Corporation in various financial and leadership positions, most
recently as CFO of General Motors' former subsidiary, Delphi
Chassis Systems, from May 1997 to
August 1998.
About Kraft Foods
Kraft Foods Inc. (NASDAQ: KFT) is a global snacks powerhouse
with an unrivaled portfolio of brands people love. Proudly
marketing delicious biscuits, confectionery, beverages, cheese,
grocery products and convenient meals in approximately 170
countries, Kraft Foods had 2011 revenue of $54.4 billion. Twelve of the company's
iconic brands – Cadbury, Jacobs, Kraft,
LU, Maxwell House, Milka, Nabisco,
Oreo, Oscar Mayer,
Philadelphia, Tang
and Trident – generate revenue of more than $1 billion annually. On Aug. 4, 2011, Kraft Foods announced plans to
divide and create two independent public companies: a
high-growth global snacks business and a high-margin North American
grocery business. The transaction is expected to be completed
on Oct. 1, 2012. A leader in
innovation, marketing, health & wellness and sustainability,
Kraft Foods is a member of the Dow Jones Industrial Average,
Standard & Poor's 500, NASDAQ 100, Dow Jones Sustainability
Index and Ethibel Sustainability Index. Visit
www.kraftfoodscompany.com and
www.facebook.com/kraftfoodscorporate.
Forward-Looking Statements
This press release contains a number of forward-looking
statements. Words, and variations of words such as "expect,"
"will," and similar expressions are intended to identify our
forward-looking statements, including but not limited to, our plan
to create two industry-leading public companies; timing of the
spin-off; and expectations for the North American grocery company.
These forward-looking statements are subject to a number of risks
and uncertainties, many of which are beyond our control, which
could cause our actual results to differ materially from those
indicated in our forward-looking statements. Please see our
risk factors, as they may be amended from time to time, set forth
in our filings with the SEC, including our most recently filed
Annual Report on Form 10-K and subsequent reports on Forms 10-Q and
8-K. Kraft Foods disclaims and does not undertake any obligation to
update or revise any forward-looking statement in this press
release, except as required by applicable law or regulation.
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SOURCE Kraft Foods Inc.