In every merger, there are winners and losers. And when it comes to the Kraft-Heinz merger that is soon to be completed, a lot of executives from H.J. Heinz Co will be taking up leadership positions in what will become The Kraft Heinz Company.
Back in March 25, H.J. Heinz Company had released a statement to say that they signed a “definitive merger agreement” with the Kraft Foods Group to form The Kraft Heinz Company. Meanwhile, 3G Capital and Warren Buffett’s Berkshire Hathaway are expected to bring in an additional investment of $10 billion into The Kraft Heinz Company.
The union will see several household brands coming together under one management including Lunchables, Classico Kraft Mayo, Watties, Planters, Ore Ida, Maxwell House, Philadelphia Cream Cheese, TGI Fridays, Oscar Mayer, Kool-Aid, Weight Watchers, Velveeta, Lea & Perrins along with HP Sauce as seen in their investor presentation.
Moreover, the newly formed company is expected to bring in a revenue of approximately $28 billion. After all, The Kraft Heinz Company will own eight brands that contribute more than $1 billion each while it will also have five brands that are worth anywhere between $500 million and $1 billion.
Kraft had released a statement last June 10 to announce that the Canadian Competition Bureau has issued a “no action” letter with regard to the proposed merger between them and Heinz. They had stated that the Bureau will not be challenging the proposed merger, indicating that it is very well in the process of going through.
And as it goes through, Heinz released a statement that details the new senior leadership of The Kraft Heinz Company. Bernardo Hees, the current Heinz CEO and future CEO of The Kraft Heinz Company remarks, “Our new leadership team represents the best of the best in business with proven track records for delivering results. I am thrilled that this world-class group of executives will join me to further strengthen our iconic brands with our industry-leading go-to-market strategies, innovation pipeline, and global infrastructure.”
Here are the newly appointed senior executives of the future The Kraft Heinz Company:
Paul Basilio has been appointed EVP and Chief Financial Officer. He became Heinz’s Chief Financial Officer back in June 2013.
Matt Hill will become the Zone President of Europe. He has been the Zone President for Heinz Europe since 2013.
Emin Mammadov has been named the Zone President of Russia, India and Middle East, Turkey & Africa. He has been Heinz’s President of RIMEA since 2013.
Michael Mullen will become the SVP of Corporate and Government Affairs. He has been with Heinz since 1998.
Eduardo Pelleissone has been named the EVP of Global Operations. He has been Heinz’s Head of Operations since 2013.
Marcos Romaneiro will become Zone President of Asia Pacific. He has been the Heinz Zone President for Asia Pacific since June 2014.
Francisco Sa has been appointed as the Zone President of Latin America. He has been the Zone President of Heinz Latin America since June 2014.
Jim Savina has been promoted to SVP, General Counsel and Corporate Secretary. He has been with Kraft since 2013.
Melissa Werneck has been named the SVP Global Human Resources, Performance and IT. She has been with Heinz since July 2013.
George Zoghbi has been named Chief Operating Officer of U.S. commercial business. Mr. Zoghbi was previously appointed COO at Kraft back in February 2015.
Meanwhile, the following executives will be reporting Zoghbi:
Eduardo Luz has been named President of the U.S. Ketchup, Condiments, Sauces, Dressings and Frozen business. He has been with Heinz since June 2013 and immediately got promoted to Zone President of Heinz North America.
Joe Fragnito has been promoted to President of the U.S. Beverages & Snack Nuts business. He is currently the Kraft’s VP of Marketing for Meal Combinations, such as Lunchables.
Howard Friedman will become the President of the U.S. Cheese & Dairy business. He has been with Kraft since 1997 and is currently the President of Kraft’s U.S. Cheese & Dairy division.
Mark Magnesen will become the President of the U.S. Meat business. He is the current President of the Oscar Mayer division.
Tom Lopez has been promoted to President of the U.S. Meal Solutions & Desserts business. He is currently Kraft’s VP of Marketing for Refreshment Beverages.
David Toy has been promoted to President of U.S. Foodservice. He is currently the Managing Director of Heinz’s North American Foodservice business.
Sergio Nahuz has been promoted to Head of U.S. Sales. He is Heinz’s Managing Director for the U.S. Consumer Products business.
Andre Maciel has been promoted as head of the U.S. Commercial Finance including U.S. Budget and Business Planning (BBP), Zero Based Budgeting (ZBB) and Revenue Management. He has been with Heinz since 2013
Nina Barton has been promoted to the SVP of Marketing Innovation, Research and Development. She is currently Kraft’s VP of Marketing for Coffee.
Meanwhile, Kraft’s Diane Johnson May and Tom Corley are expected to stay with The Kraft Heinz Company at least throughout the transition period. Moreover, other Kraft executives who were not appointed in the newly formed company are expected to depart once the merger has been completed or within 30 days. To them, Bernardo Hees says, “I sincerely thank these committed executives for their leadership and numerous contributions to Kraft, and I wish them all the best in the future.”
The Kraft Heinz Company will reportedly be “co-headquartered” in Pittsburg and Chicago. It will become the 3rd largest food and beverage company in North America while it will be 5th largest in the world. Meanwhile, Wisconsin State Journal has also reported that Morningstar analyst Erin Lash believes the merger may result in Kraft getting rid of its “underperforming” brands like Jell-O.