Kraft Foods Group to Launch 2 New Business Units
Kraft Foods Group has said it will divide the brands in its Grocery segment to create two new, standalone business units: Meals and Desserts, and Enhancers and Snack Nuts, effective July 1, 2013.
The move is designed to allow the Northfield, Ill.-based company to place greater focus on brand-building while reducing the complexity of managing its product portfolio.
"Since we launched the new Kraft, we've focused heavily on turbocharging our iconic brands. And we've made a lot of progress thanks to great marketing and innovation," said Tony Vernon, Kraft CEO. "With the creation of our two newest business units and great leaders in place, we're taking an important step to strengthen our focus on some of the most beloved brands in North America."
Michael Osanloo, current EVP and president of Kraft’s Grocery business, will become EVP and president of the Meals and Desserts unit. Jane Hilk, a 22-year veteran at Kraft who currently serves as SVP of Marketing for the Oscar Mayer brand, will take on the role of EVP and president of the Enhancers and Snack Nuts unit. Both Osanloo and Hilk will report to Vernon.
"These businesses have many of Kraft's most well-known and celebrated brands," Vernon added. "I'm excited to have two of our most seasoned and strategic leaders bringing their considerable talents to these brand franchises."
Kraft Foods Group, Inc. is one of North America's largest consumer packaged food and beverage companies, with annual revenues of more than $18 billion. Kraft will begin reporting the financial results of the new business units as separate segments at the end of its third fiscal quarter 2013.