Packaged food giant Kraft Foods Inc. (KFT) on Wednesday named long-time company executive Timothy Cofer as Executive Vice President and President of Kraft Foods Europe. He succeeds Michael Clarke, who will leave the company in mid-August to take a senior executive position with a U.K.-based public company.
Cofer, aged 42, will report to Kraft Foods' Chairman and CEO Irene Rosenfeld and become a member of the Kraft executive team. He will be based in Zurich, Switzerland.
Cofer joined Kraft Foods in 1992 and has most recently served as senior vice president of the global chocolate category team. Prior to that, he served as senior vice president, Strategy and Integration, leading the global integration team following the acquisition of Cadbury plc in early 2010.
According to Kraft Foods, Cofer was the architect of the company's European chocolate category model from 2003 to 2006. Cofer led the Oscar Mayer business in 2007 and the company's U.S. pizza business from 2008 to 2010.
The outgoing president of the European foods division, Clarke, joined Kraft Foods in January 2009 from beverages giant Coca-Cola Co. (KO), where he last served as president of the Northwest Europe and Nordics business unit. Before joining Coca-Cola, Clarke had an extensive career with Reebok International in finance and operations in the Asia Pacific region.
Clarke's departure follows the exit of Kraft Foods' chief financial officer Timothy McLevish in mid-March.
In Wednesday's regular trading, KFT is trading at $35.49, up $0.09 or 0.25 percent on a volume of 1.21 million shares.
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