WBEZ | Kraft Foods http://www.wbez.org/tags/kraft-foods Latest from WBEZ Chicago Public Radio en Kraft CEO Rosenfeld to head global snack company after split http://www.wbez.org/story/kraft-ceo-rosenfeld-head-global-snack-company-after-split-94594 <p><p style="text-align: center;"><img alt="" class="caption" src="http://llnw.wbez.org/story/insert-image/2011-December/2011-12-05/KraftSplit.jpg" style="width: 630px; height: 296px; margin-bottom: 10px;" title="(AP/File)"></p><p>Kraft Foods Inc., which is splitting its business into two publicly traded companies, has named Chairman and CEO Irene Rosenfeld to head the global snacks company after the breakup.</p><p>Rosenfeld, 58, will serve as chairman and CEO of the snacks business which will include brands such as Trident gum and Cadbury chocolate. Rosenfeld has served as CEO of Kraft Foods since 2006 and as chairman since 2007.</p><p>The other company, which will focus on the North American grocery business, will be headed by W. Anthony Vernon, who is executive vice president and president of Kraft Foods North America. The 55-year-old Vernon will oversee the Maxwell House coffee, Oscar Mayer meats and other brands. Vernon became president of Kraft Foods North America in 2009.</p><p>The grocery business will keep the Kraft Foods name, while a name for the snacks business — which has yet to be determined — will be up for a vote at its shareholders meeting in May.</p><p>Kraft also said on Monday that John Cahill, industrial partner of private equity firm Ripplewood Holdings LLC, will become non-executive chairman of the grocery business. The 54-year-old Cahill will start out as executive chairman due to the "tremendous effort" needs to launch and transition to a public company, Kraft said.</p><p>Cahill, who has served as chairman and CEO of The Pepsi Bottling Group Inc., will start at Kraft in January to start working on the separation.</p><p>Rosenfeld and Vernon will take on their new roles when the companies launch. The spinoff is expected to be complete by the end of next year.</p><p>Kraft, which is based in Northfield, Ill., said its management structure will stay the same until the spinoff. Last month the company reported that its third-quarter net income rose 22 percent, boosted by higher prices on some of its products that helped offset increased costs for everything from ingredients to packaging.</p><p>Its stock slipped 3 cents to $36.44 in morning trading Monday.</p></p> Mon, 05 Dec 2011 16:01:00 -0600 http://www.wbez.org/story/kraft-ceo-rosenfeld-head-global-snack-company-after-split-94594 Kraft seeks preliminary injunction against Starbucks http://www.wbez.org/story/news/local/kraft-seeks-preliminary-injunction-against-starbucks <p><p>Kraft Foods Inc. is seeking a preliminary injunction allowing the company to continue distributing Starbucks packaged coffee.</p><p>Kraft is seeking the injunction in the&nbsp;U.S. District Court for the Southern District of New&nbsp;York. If a preliminary injunction is granted, the order would essentially prohibit Starbucks from assuming full responsibility of sales and distribution of packaged coffee products until a final decision is made in court.<br /><br />Northfield-based Kraft says the filing against Starbucks is separate from current arbitration proceedings. The two companies entered arbitration in late November after Starbucks announced it would end its 12-year-old distribution agreement with Kraft to supply packaged coffee to grocery stores.<br /><br />Starbucks calls the request for a preliminary injunction a delaying tactic that would be harmful to customers. The coffee giant says it will oppose any action by Kraft that would prevent Starbucks from assuming full control of the brand. Starbucks plans to take over sales and distribution of the packaged coffee by March 2011.</p></p> Mon, 06 Dec 2010 20:51:00 -0600 http://www.wbez.org/story/news/local/kraft-seeks-preliminary-injunction-against-starbucks Kraft takes legal action over contract split with Starbucks http://www.wbez.org/story/kraft-foods/kraft-takes-legal-action-over-contract-split-starbucks <img typeof="foaf:Image" src="http://llnw.wbez.org/2465785.jpg" alt="" /><p><p>Suburban Northfield-based Kraft foods has entered into arbitration with coffee giant Starbucks. The move comes after Starbucks announced it will end its distribution agreement with Kraft to supply packaged coffee to grocery stores.</p><p>Erin Swanson is a Kraft equity analyst at Morningstar. She said the disagreement shouldn't hurt Kraft's stocks.</p><p>&ldquo;We haven&rsquo;t made any changes to our investment opinion based on what&rsquo;s going on. I think it&rsquo;s going to take some time for these issues to be resolved, so I don&rsquo;t think there&rsquo;s going to be an impact on Kraft&rsquo;s business over the near-term,&rdquo; said Swanson.&nbsp;</p> <div>Swanson said Starbucks accounts for $500 million of Kraft's $40 billion in annual sales. Kraft is seeking up to 35 percent of Starbucks fair market value as compensation for revenue lost during the transition.</div><div>&nbsp;</div><div>In a press release Starbucks said the agreement was set to end in 2014 but will instead end on March 1, 2011. The coffee company maintains the move to end the agreement was consistent with its terms. Starbucks said Kraft was not meeting its responsibilities to promote the brand.&nbsp;</div></p> Mon, 29 Nov 2010 21:20:00 -0600 http://www.wbez.org/story/kraft-foods/kraft-takes-legal-action-over-contract-split-starbucks