logo
Plus   Neg
Share
Email

Kraft Heinz Brings Back Paulo Basilio As CFO

Kraft Heinz Co. (KHC) Monday said its former Chief Financial Officer Paulo Basilio will return to reprise his role at the packaged-food company to help its slowing sales.

Basilio will take over the role on September 1. Current CFO David Knopf will return to private equity firm 3G Capital. Knopf, who previously worked at Goldman Sachs, got the role of CFO at Kraft Heinz in 2017.

Chief Executive Officer Miguel Patricio, who took over the reigns of the company in July, "made the strategic decision to shift to a seasoned veteran.

Kraft Heinz is in the midst of a restructuring and has had to restate financial statements going back to 2016.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Pfizer said Friday it reached a multi-year deal with Gilead Sciences to manufacture and supply Gilead's investigational antiviral remdesivir for COVID-19 patients. Ferring Pharmaceuticals US is recalling various nasal sprays citing superpotency or amounts of desmopressin higher than specified, the U.S. Food and Drug Administration announced in a statement. The recall involves all lots on the market of DDAVP Nasal Spray 10 mcg/0.1mL, Desmopressin Acetate Nasal Spray 10 mcg/0.1mL, and STIMATE Nasal Spray 1.5 mg/mL. U.S. President Donald Trump has issued executive orders to ban Chinese mobile application TikTok as well as WeChat, citing a threat to national security and its economy. China's ByteDance Ltd. owns TikTok, a video-sharing mobile app, while Tencent Holdings Ltd. owns WeChat, a messaging, social media, and electronic payment app.
RELATED NEWS
Follow RTT