However, the company has not been totally free from certain difficulties. Tony Vernon, its former chief executive officer stepped down in December in what Brian Yarbrough, an analyst with Edward Jones & Co. in St. Louis, speculated was due to poor performance, and Chairman John Cahill took over
In December, Kraft unexpectedly named a new chief executive to replace Tony Vernon, a then-58-year-old who had been inthe job for just over two years. A board member said at the time the company felt the need to accelerate the pace ofchange. Kraft Chairman, John Cahill, then 57, took over as CEO.
Cahill will succeed Tony Vernon, who has informed the board of his intention to retire as CEO on December 27, the last day of the companys fiscal year. Vernon will stay on as an advisor through the end of March, and will remain a director on Krafts KRFT boar
Date: Dec 18, 2014
Category: Business
Source: Google
Accenture, Rite Aid among Thursday stocks to watch
environment. To date, our implementation of commodity-based pricing has been successful. But in other areas, our execution has been mixed. We will continue to apply our playbook, improve our execution, and proactively adapt to drive profitable growth now and in the future," said Kraft CEO Tony Vernon.
"I think it was an unusual quarter for all of us in the industry," Kraft CEO Tony Vernon said on a conference call with analysts, citing issues that included Easter falling later in the year and a heavy dose of promotions in categories such as boxed macaroni and cheese and other packaged dinners.
Date: Jul 31, 2014
Category: Business
Source: Google
Free Coffee At McDonald's Might Not Be Part Of The 'Breakfast Wars' At All
McDonalds hasnt said when it will begin testing McCaf whole-bean, ground and K-cup coffee in supermarkets (as it already does in Canada). But last October, Tony Vernon, CEO of coffee partner Kraft Foods, said testing would begin this year. A McDonalds Corp. spokesperson said then, We are buildi
Date: Mar 31, 2014
Category: Business
Source: Google
Kraft's 4Q Profit Rises but Sales Miss Street View
In an earnings call, CEO Tony Vernon also noted that Kraft faced "continuing headwinds in the near term," due to factors such as the cut in SNAP benefits, formerly known as food stamps, and the weak job market.