Kraft Foods Group Inc. has announced its Board of Directors approved the transition of Executive Chairman John Cahill to Non-Executive Chairman of Kraft’s Board of Directors on March 8.
Cahill joined Kraft Foods Inc. in January 2012 as the Executive Chairman Designate for the new Kraft, and became Executive Chairman of Kraft Foods Group at its spin-off from Mondelez International on Oct. 1, 2012. With Kraft reporting solid results for its first full year as an independent company, John Cahill’s transition to Non-Executive Chairman is consistent with the company’s plans.
“I want to thank John for his partnership in building the foundation for the new Kraft,” said Kraft CEO Tony Vernon. “During a time of significant change, we have benefited greatly from John’s deep knowledge of the food and beverage industry, financial acumen, and experience in spinning off public companies. I look forward to working with John and the Board as we continue to remake Kraft.”
Press release (pdf)