Heinz sets managers of new company formed with Kraft

The command of Heinz wasted no time to reorganize Kraft Foods. The companies announced this week a series of administrative changes, even before the approval the merger plan, which must be voted on by shareholders today. Between output executives are the Chief Financial Officer of Kraft, James Kehoe, and the main legal adviser, Kim Rucker, second statement in which he was also nominated the Executive team that will lead the company to be formed by combining.
The Chief Financial Officer of Heinz Paul Basilio, will have the same post in new Kraft Heinz Co., which enjoy largely ketchup manufacturer executives to fill its top jobs.
"Our new leadership team represents the best of the best in the business," said the CEO of Heinz, Bernardo Hees, who will occupy the same position in Kraft, Heinz, according to the statement. "I'm excited because this group of first-class executives will join me to further strengthen our iconic brands."
The changes are similar to remodeling that Hees commanded in Heinz, Pittsburgh, two years ago, after Warren Buffett's Berkshire Hathaway, and investment firm 3 g Capital took control of the manufacturer of sauces. In a matter of weeks after the completion of the merger, the top executives of the company left and the new management team began working on cuts in jobs and costs, comprising from the factory floor to the corporate headquarters.
The belt tightening helped Heinz to display some of the best profit margins among the major food groups of the United States, an industry with low growth rates. Also helped justify the merger with Kraft, which was architected by 3 g and Berkshire Hathaway.
The companies expect to reduce annual costs by $ 1.5 billion by the end of 2017, thanks to the combination of the businesses. The
When the merger is completed, Eduardo Pelleissone is Executive Vice President of international operations; Matt Hill will be President for Europe; and Marcos Romaneiro will oversee the Asia-Pacific region. All occupy similar posts currently in Heinz.
The Chief Operating Officer of Kraft, George Zoghbi, is the company's largest Executive hierarchy that will be suitable for the new leadership team. He will be Director of commercial operations in the United States. Executives at Kraft, as Joe Fragnito and Howard Friedman will be accountable to him.
Other executives at Krat agreed to stay in the combined company for a few more months. The Executive Vice President of human resources, Diane Johnson, will stay until December. And Tom Corley, Executive Vice President of u.s. sales, until November, according to the companies.