Kraft Foods Announces John Cahill as new CEO

Kraft Foods announced on Thursday, 18, the Chairman of the Board of Directors of the company, John Cahill, will assume the post of Chief Executive next week, replacing Tony Vernon, who will retire.
Vernon will remain at Kraft as a consultant until March and will be part of the Executive Board until the next annual meeting of the company in 2015.
The announcement surprised analysts, because Vernon has only 58 years and was in Office there was little more than two years.
He took over as CEO when Kraft split its global snacks unit, which is now called Mondelez International.
Cahill, who will continue as President, and the Council praised the work of Vernon after the merger of Mondelez, but mentioned the need for changes.
"The Council and Tony agree on the need to accelerate the pace of change," said in a statement the Board Member Mackey McDonald.
Kraft has been facing difficulties to adapt to changes in consumers ' eating habits.
In addition, industry competition is fiercer and investors are pressing companies for better margins.