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Kraft Names Top Execs For Snack, Grocery Businesses After Spinoff

Posted On: 12/5/2011

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Kraft Vending and OCS, Kraft Foods Inc., Irene Rosenfeld, Kraft North America, Anthony Vernon, John Cahill, Ripplewood Holdings, vending foods, office coffee service supplies

NORTHFIELD, IL -- Kraft Foods Inc. named its current chief executive, Irene Rosenfeld, to lead its snacks business and Kraft North America president Anthony Vernon to lead its North American grocery business when it splits in two next year.

Rosenfeld, 58, will serve as chairman and chief executive of the snacks business, which will include brands such as Oreo cookies and Trident gum. She served as chief executive of Kraft Foods since 2006 and as chairman since 2007.

Vernon, 55, will be chief executive of the grocery company, which includes the Maxwell House coffee and Oscar Mayer meats brands. He became president of Kraft Foods North America in 2009.

Rosenfeld and Vernon will take on their new roles after the spinoff, which is expected to be complete by the end of 2012. The grocery business will keep the Kraft Foods name while a name for the snacks business has not yet been determined and will be up for a vote at Kraft's shareholders meeting in May.

The food and beverage giant also said John Cahill, a partner at private-equity firm Ripplewood Holdings, will be nonexecutive chairman of the North American grocery company. Cahill, who has served as chairman and chief executive of the Pepsi Bottling Group Inc., will join Kraft in January as executive chairman, and serve in that role until the spinoff. Kraft said Vernon, as chief executive, will lead the grocery business, while Cahill will focus on financial and strategic matters.