Kraft Heinz unveils leadership shake-up ahead of planned split

(Sharecast News) - American foods giant Kraft Heinz has announced that former Kellanova boss Steve Cahillane will become chief executive of the company on 1 January, with current leader Carlos Abrams-Rivera set to step down after less than two years on the job.

The shake-up comes ahead of the company's previously announced split as it intends to unwind a merger that happened in 2015.

Cahillane, who had recently served as chair, president and chief executive of Kellanova until its recent acquisition by Mars, and had also previously led the Kellogg Company, said he was "honoured to be joining Kraft Heinz as CEO at such a pivotal and exciting time".

"I'm confident the planned separation will accelerate the company's ability to compete and win in today's environment and unlock the immense opportunity in front of us," he said.

Kraft Heinz announced in September that it was separating into two standalone companies, temporarily named Global Taste Elevation Co and North American Grocery Co.

Abrams-Rivera had been lined up to lead the North American Grocery Co, which will house grocery staple brands like Oscar Mayer, Kraft Singles and Lunchables, though the firm will now initiative a CEO search for that business.

Meanwhile, Cahillane will head up the larger global business, Global Taste Elevation Co, which will hold brands in the sauces, spreads and seasonings categories.

"The separation is designed to maximize Kraft Heinz's capabilities and brands while reducing complexity, allowing both new companies to more effectively deploy resources toward their distinct strategic priorities," the firm said.