Kraft Foods streamlining business structure June 14
NORTHFIELD, ILL. — John Cahill, executive chairman of Kraft Foods Group Inc., will transition to the position of non-executive chairman, effective March 8. The shift, approved by the Kraft board, was announced Feb. 14. “Today’s announcement reflects the board’s confidence in the progress of our business,” said Mackey J. McDonald, who is lead director on Kraft’s board. “John has been instrumental in establishing Kraft as a formidable independent company. We are pleased that he will continue to lead the board and work with management to sustain our momentum.” Mr. Cahill joined Kraft Foods Inc. in January 2012 as the executive chairman designate and became executive chairman of Kraft Foods Group in October 2012 when it was spun off from Mondelēz International. Noting the company’s “solid (financial) results” issued recently, Kraft said the change was consistent with succession plans.