Kraft Foods Group announces creation of two new business units
Kraft Foods Group announced plans to create two new, standalone business units: Meals and Desserts, and Enhancers and Snack Nuts. With the creation of these new business units, the company will be able to place even greater focus on brand-building while reducing the complexity of managing a portfolio with many distinct brands and product categories. The new business structures and leadership appointments are effective July 1.
"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."