|
Mondelez, which makes Oreo cookies, Trident gum and Ritz
crackers, has hired recruiting company Heidrick & Struggles
International Inc <HSII.O>, and its board recently discussed
outside candidates to potentially replace Rosenfeld, the
newspaper said.
A Mondelez representative was not immediately available for
comment.
The timing of the succession is up to Rosenfeld, who is also
chairman, and Heidrick & Struggles has not yet been asked to
interview prospects, the paper said.
Potential successors among Mondelez's current executives include
Tim Cofer, chief growth officer, and Chief Financial Officer
Brian Gladden, the Journal said.
The company's revenue fell more than 12 percent in 2016 as
important emerging market economies faltered and consumers
sought more nutritious foods, leading to a lagging share price
that has sparked unrest among some Mondelez investors, the
Journal said.
Shareholder activists Nelson Peltz and William Ackman own big
stakes in the company and have urged Mondelez to boost earnings
or sell itself. (http://reut.rs/2on71io)
Mondelez, which has a market value of nearly $70 billion, last
year tried to buy Hershey Co <HSY.N> for $23 billion. Hershey
rejected the offer, and Mondelez walked away.
There has also been speculation that Deerfield, Illinois-based
Mondelez, which relies on foreign markets for most of its $26
billion in annual sales, could be taken over by one of its
rivals.
(Reporting by John McCrank in New York; Editing by Lisa Von Ahn)
[© 2017 Thomson Reuters. All rights
reserved.] Copyright 2017 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
|
