More Edchup, please! Kraft Heinz's new boss plots a revival but shareholders aren't convinced
Kraft Heinz CEO Miguel Patricio serving hot dogs with ketchup to employees on Tuesday, his first official day in the job. Photo: Kraft Heinz Co. By Heather Haddon June 26, 2019 5:32 am ET Kraft Heinz Co.’s KHC 0.52% new chief executive is taking over at the lowest point in the food conglomerate’s history.
Sitting at a table covered with some of the company’s food items, the former chief marketing officer for Anheuser-Busch InBev SA pointed to products that he said need more exposure. He said Kraft Heinz needs bolder marketing for its products. To underscore the point he picked up a bottle of Edchup, a Heinz ketchup released earlier this month with the endorsement of musician Ed Sheeran. “We need more of this,” he said.
After 3G teamed up with Mr. Buffett’s Berkshire Hathaway Inc. to broker the merger of Kraft Foods and H.J. Heinz in 2015, the company every year has exceeded its target of cutting more than $1.5 billion in annual costs. That made Kraft Heinz one of the most profitable U.S. food makers. The 52-year-old father of three and native of Portugal spent 22 years at Anheuser-Busch. He helped expand beer sales internationally, focusing on higher-end brands such as Stella Artois. Mr. Patricio said his five years in China leading Anheuser-Busch’s Asia business were the best period of his adult life.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Billionaire Warren Buffett denies any tensions with his partner in troubled Kraft HeinzReports of tensions may have been sparked by Kraft Heinz's underperformance, and because of accounting problems at the packaged goods company.
Consulte Mais informação »
How Cindy Yang Learned to Throw a Party at Mar-a-LagoHad it not been for a preposterously improbable chain of events — some not of her own making — Cindy Yang’s activities would probably have gone unnoticed. That changed when Robert Kraft was arrested. riceid reports
Consulte Mais informação »
Billionaire Warren Buffett denies any tensions with his partner in troubled Kraft HeinzReports of tensions may have been sparked by Kraft Heinz's underperformance, and because of accounting problems at the packaged goods company.
Consulte Mais informação »
Lufthansa will look at new Airbus A321XLR, but it's no game-changer: CEOLufthansa will look at ordering Airbus's new long-range A321XLR jets, Chief...
Consulte Mais informação »
Find Yourself Someone Who Looks At You The Way Josef Von Sternberg Looked At Marlene DietrichThe funniest part of thedeaddontdie is when the massive Adam Driver shows up driving a smart car — his latest performance where his physicality is tied to the role
Consulte Mais informação »
Joel Silver Out At Silver Pictures, CEO Hal Sadoff To Steer ShipEXCLUSIVE: A shakeup has occurred that leaves Joel Silver exiting Silver Pictures, the production company named for him and which he founded. Silver resigned from the company today. There will like…
Consulte Mais informação »