logo
  

Kraft Heinz To Combine US, Canada Business To Create North America Zone

Kraft Heinz Company (KHC) Wednesday said it will combine its U.S. and Canada businesses to create the North America Zone, which is expected to be effective in the second fiscal quarter of 2022.

The company said the move to combine the two division is meant to "advance the company's long-term, sustainable growth plans by bringing increased agility to its innovation agenda, operations, and go-to-market approach."

The Company's U.S. and Canada businesses accounted for approximately 80% of its 2020 consolidated net sales.

"As consumer, customer, and employee needs change, we must be in a position to anticipate, adjust, and respond with speed," said Miguel Patricio, Chief Executive Officer of Kraft Heinz. "Combining our U.S. and Canada businesses—two dynamic Zones—gives us a distinct advantage and will produce faster, more effective results so we can continue investing in our strategic plan and driving sustainable growth. While this is an evolution to our structure, it is part of a broader revolution in how we will work at Kraft Heinz going forward."

Due to the restructuring, the company also announced Kraft Heinz's new North America Zone will be led by Carlos Abrams-Rivera, currently U.S. Zone President.

The company also announced the appointment of Robert Scott as President of Research & Development - North America.

Meanwhile, Bruno Keller, currently Canada Zone President, will assume the position of President of Latin America, part of the company's International Zone.

The North America Zone will begin structural transitions in early 2022 with full organizational and financial reporting changes expected to take effect at the start of its second fiscal quarter next year.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The TJX Companies, Inc. (TJX) said its first-quarter pretax profit margin and earnings per share, each on an adjusted basis, exceeded its plans even though sales were slightly below planned range. Adjusted pretax margin was 9.4%, excluding a 1.9 percentage point charge related to a write-down of the... Apple Inc. is delaying its latest plan to ask employees to come back to the office three days a week, but will continue with its plan of two days in office a week, Bloomberg reported. Citing an internal memo, the report also said the tech major is again requiring its staff to wear masks in common spaces, meeting rooms, hallways, and elevators, as well as at 100 US stores. The U.S. Food and Drug Administration or FDA has urged infant formula manufacturers to import infant formula products to the United States to meet the ongoing severe supply shortage. In order to further increase the availability of infant formula in the country, while protecting the health of infants, the regulator announced a guidance outlining increased flexibilities for the global manufacturers
Follow RTT