NORTHFIELD, Ill., Feb. 17, 2015 /PRNewswire/ -- Kraft Foods Group,
Inc. (NASDAQ: KRFT) today announced that it has named James Kehoe Executive Vice President and Chief
Financial Officer. He will report directly to Chairman and CEO
John T. Cahill and will lead all of
Kraft's finance operations.
Mr. Kehoe has extensive financial experience and previously
spent more than two decades with Kraft in roles across numerous
businesses and corporate functions. He rejoins the company from
Gildan Activewear Inc., a leading supplier of branded basic family
apparel in Canada, where he most
recently served as Executive Vice President and Chief Financial and
Administrative Officer. Prior to that, he was Senior Vice President
of Operating Excellence at Mondelez International, Inc., where he
led the company's global transformation program through improving
execution across the business as well as cost savings
initiatives.
"I am pleased to welcome James back to Kraft as CFO," said Mr.
Cahill. "James knows the company inside and out and, throughout his
career, has demonstrated strong financial acumen and execution
capabilities. I have tremendous confidence in his ability to lead
our finance team and take Kraft to a new level as we look to
accelerate our pace of change."
"Kraft is the company where I've built my career, and I'm
excited to rejoin at such a critical time and partner again with
many of the talented colleagues I know so well," commented Mr.
Kehoe. "I look forward to working with John, our finance team and
the rest of management to drive Kraft's strategy and performance as
we focus on sustainable, profitable growth."
During his time with Kraft, Mr. Kehoe held a variety of
senior-level finance positions and played a key role in the
company's operations, business model development and cost-reduction
initiatives. Mr. Kehoe's most recent role at Kraft was as Senior
Vice President, Corporate Finance, leading multiple functions,
including treasury, tax, accounting, external financial reporting,
enterprise risk management and corporate planning and analysis.
Mr. Kehoe succeeds Teri
List-Stoll, whom the company announced last week would step
down from her role as of Feb. 28,
2015. Ms. List-Stoll will work closely with Mr. Kehoe to
ensure a smooth transition.
About James Kehoe
Mr.
Kehoe has more than two decades of experience with the Kraft Foods
organization in finance- and operations-related roles of increasing
responsibility. His most recent position at the company was Senior
Vice President, Corporate Finance, which he held from 2012-2013. He
first joined the company in 1988. Throughout his time at Kraft, Mr.
Kehoe has driven a variety of finance functions, including
spearheading the financial structuring of the company at the time
of its spin-off from Mondelez International, Inc.
In November 2013, he joined
Mondelez International as Senior Vice President, Operating
Excellence, where he reported to the CEO and led large-scale
transformation initiatives. He then served as Executive Vice
President and Chief Financial and Administrative Officer at Gildan
Activewear, a leading supplier of branded basic family apparel.
Mr. Kehoe has a Master of Business Studies degree in finance
from University College, Dublin
(Ireland) and a Bachelor of
Commerce degree from University College,
Galway (Ireland).
ABOUT KRAFT FOODS GROUP
Kraft Foods Group, Inc.
(NASDAQ: KRFT) is one of North
America's largest consumer packaged food and beverage
companies, with annual revenues of more than $18 billion. The company's iconic brands
include Kraft, Oscar
Mayer, Velveeta, Planters, Philadelphia, Maxwell House,
Lunchables, Capri Sun, Kool-Aid and
Jell-O. Kraft's 22,500 employees in the U.S. and
Canada have a passion for making
the foods and beverages people love. Kraft is a member of the
Standard & Poor's 500 and the NASDAQ-100 indices. For
more information, visit www.kraftfoodsgroup.com and
www.facebook.com/kraft.
FORWARD-LOOKING STATEMENTS
This press release contains
a number of forward-looking statements. Words such as "will,"
"take," "accelerate," "drive," "focus," "ensure," and variations of
such words and similar expressions are intended to identify
forward-looking statements. Examples of forward-looking statements
include, but are not limited to, statements regarding Kraft's
management changes, growth, strategy and performance. These
forward-looking statements are not guarantees of future performance
and are subject to a number of risks and uncertainties, many of
which are beyond Kraft's control. Important factors that affect
Kraft's business and operations and that may cause actual results
to differ materially from those in the forward-looking statements
include, but are not limited to, increased competition; Kraft's
ability to maintain, extend and expand its reputation and brand
image; Kraft's ability to differentiate its products from other
brands; increasing consolidation of retail customers; changes in
relationships with significant customers and suppliers; Kraft's
ability to predict, identify and interpret changes in consumer
preferences and demand; Kraft's ability to drive revenue growth in
its key product categories, increase its market share, or add
products; volatility in commodity, energy and other input costs;
changes in Kraft's management team or other key personnel; Kraft's
geographic focus in North America;
changes in regulations; legal claims or other regulatory
enforcement actions; product recalls or product liability claims;
unanticipated business disruptions; Kraft's ability to complete or
realize the benefits from potential acquisitions, alliances,
divestitures or joint ventures; Kraft's indebtedness and ability to
pay such indebtedness; disruptions in information technology
networks and systems; Kraft's inability to protect intellectual
property rights; weak economic conditions; tax law changes;
volatility of market-based impacts to post-employment benefit
plans; pricing actions; and other factors. For additional
information on these and other factors that could affect Kraft's
forward-looking statements, see Kraft's risk factors, as they may
be amended from time to time, set forth in its filings with the
Securities and Exchange Commission, including its most recently
filed Annual Report on Form 10-K and subsequent reports on Form
10-Q and Form 8-K. Kraft 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 Group