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“Like millions of people around the world, I have a deeply
personal connection to the Kraft Heinz brands, dating back to my
childhood,” Cahillane said in a statement. “I’ve devoted my
entire career to building brands, and the opportunity to do the
same with Kraft Heinz’s iconic portfolio is a dream come true.”
The remaining company, dubbed North American Grocery Co., will
include slower-selling brands like Maxwell House, Oscar Mayer,
Kraft Singles and Lunchables. Kraft Heinz hasn’t yet named a CEO
of that company.
Kraft Heinz said Carlos Abrams-Rivera, who has been its CEO
since January 2024, will serve as an adviser to the company
until March 2026.
Kraft Heinz announced in September that it would split into two
companies a decade after a merger of the brands created one of
the biggest food manufacturers on the planet.
Kraft Heinz said the separation would make it more agile and
able to focus resources on products with the most growth
potential.
Kraft Heinz and other packaged food companies have struggled as
consumers shift away from the kinds of highly processed packaged
foods that they sell, like Velveeta cheese and Kool-Aid. The
push to remove artificial flavors and dyes added further costs.
Big food companies have also had trouble distinguishing their
products from cheaper store brands.
Cahillane presided over a similar breakup at Kellogg Co. in
2023. He served as CEO of Kellanova — which housed popular
brands like Cheez-Its, Pringles and Pop-Tarts — until it was
acquired last year by M&M's maker Mars Inc. The remaining
company, cereal maker WK Kellogg Co., was acquired by Italian
confectioner Ferrero in July.
Before joining Kellogg in 2017, Cahillane had executive roles at
The Nature's Bounty Co., Coca-Cola Co. and AB InBev.
Kraft Heinz board Chairman Miguel Patricio said Cahillane is
“uniquely qualified” to lead the company.
“His track record and experience in the industry are
unparalleled and will be invaluable as we embark on this next
chapter,” Patricio said in a statement.
Kraft Heinz shares were flat in midday trading Tuesday.
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