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
General Electric Co. filed a lawsuit against Siemens Energy AG, accusing the German power distribution company of stealing trade secrets for gas turbines. Siemens Energy allegedly used the information to get at least nine contracts to supply gas turbines to public utilities, and also covered up improper business gains. Following a court ruling, the U.S. Food and Drug Administration postponed the effective date for tobacco manufacturing companies to display new health warnings on cigarette packets and in advertisements, by additional 90 days. The warnings with color images is to promote greater public understanding of the negative health consequences of smoking. JPMorgan Chase & Co (JPM) reported strong results in the fourth quarter of 2020, with net profit up 42% largely driven by credit reserve releases of $2.9 billion. The Group said it ended the year with a CET1 ratio of 13.1% and capital above $200 billion, providing with meaningful capacity to further...
Follow RTT