What the new CEO of Kraft Heinz should do:
Yesterday, Kraft Heinz announced that Miguel Patricio will take the helm as CEO. He is known as a brand builder with experience at Coca-Cola, Johnson & Johnson and, most recently, AB InBev. This is good news for the company as they appear to have taken their eye off of customers. Patricio’s predecessor, Bernardo Hees, known for cost-cutting and zero-based budgeting oversaw a 42% drop in share price in just the past year.
Regardless, a question for Patricio is how have past practices shaped the current set of beliefs, assumptions, and habits of the company? Creating a new strategy is many times easier than making it happen. Here is what Patricio can do:Rather than a weighty strategic plan, businesses need a compelling strategic vision based on an understanding of what influences the decisions made by customers.
A leader who is new to the company has the distinct advantage of not being married to past decisions. However, the people who work at Kraft Heinz might be. Even smart, talented people can be surprisingly stubborn when where they have committed their energy is criticized. Patricio can help the organization by being upfront about the most important discomfort everyone will face – fear of making mistakes. Fear of making mistakes is especially lethal when a business needs people to be creative, to unleash their imagination. The fastest way to prove that creativity is valued is by highlighting and celebrating it. The fastest way to kill it is to marginalize or remove people who bring ideas forward.Patricio is quoted as saying that some Kraft Heinz brands are dusty.
Constance Dierickx helps boards and executives in high-stakes situations and crisis. She is the author of just-released
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