Kraft Heinz CEO Bernardo Hees will step down on June 30, marking the embattled company’s most significant executive shakeup since its formation four years ago.
Hees, 49, will be replaced by Miguel Patricio, who worked for two decades at beer giant Anheuser-Busch InBev, including as chief marketing officer from 2012 through last year.
Mr. Patricio said the leadership change, after Mr. Hees led the company for six years, was a natural step in Kraft’s evolution under 3G, a Brazilian investment firm. 3G helped create the firm through the 2015 merger of H.J. Heinz and Kraft Foods, joining forces with Warren Buffett’s Berkshire Hathaway to form the fifth largest food-and-beverage company in the world.
“He was the first one to admit that he was finishing this cycle with the company and that the company would benefit from having a person with a different background to lead it in the future,” Mr. Patricio, who is 52, said in an interview.
Full Content: Wall Street Journal
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Pfizer Settles Remaining Effexor XR Antitrust Claims for $25.5 Million
Apr 29, 2024 by
CPI
South Korean Regulator Approves LG Uplus and Kakao Mobility EV Charging Venture
Apr 29, 2024 by
CPI
Federal Judge Dismisses Doctors’ Antitrust Suit Against Ohio Health System
Apr 29, 2024 by
CPI
Paramount CEO Bob Bakish Steps Down as Merger Inches Closer
Apr 29, 2024 by
CPI
EU Brands Apple’s iPadOS as Gatekeeper in Tech Crackdown
Apr 29, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI