Pittsburgh / Northfield. (khc) The Kraft Heinz Company is pleased to announce the successful completion of the merger between Kraft and Heinz. The transaction creates the third-largest food and beverage company in North America and the fifth-largest food and beverage company in the world with an unparalleled portfolio of iconic brands. The complementary nature of the two brand portfolios presents substantial opportunity for synergies, which will result in increased investments in marketing and innovation. This historic transaction unites two powerful businesses and iconic brands, and provides a platform for leadership in the food industry both domestically and internationally.
Management and Governance
The Kraft Heinz Company’s Board of Directors is comprised of the following eleven directors: Alex Behring (who will serve as Chairman of the Board), Gregory Abel, Tracy Britt Cool, Warren Buffett, John T. Cahill (who will serve as Vice Chairman of the Board), L. Kevin Cox, Jeanne P. Jackson, Jorge Paulo Lemann, Mackey J. McDonald, John C. Pope, and Marcel Telles. Chief Executive Officer of The Kraft Heinz Company is Bernardo Hees: «I am honoured and humbled to be the CEO of The Kraft Heinz Company. Kraft and Heinz are both world-class organizations with storied pasts and together, an even brighter future».
KHC
Effective as of the close of trading on July 02, 2015, Kraft Foods Group Inc. common shares ceased trading on the Nasdaq. The Kraft Heinz Company common shares will begin trading on the Nasdaq under the trading symbol KHC on Monday, July 06, 2015.
Next Steps
The Company’s immediate focus is on integrating the two businesses and establishing a new organizational structure, while delivering its financial objectives for 2015. The Kraft Heinz Company remains committed to its hometowns with co-headquarters in Pittsburgh and the Chicago area. The Heinz brand and business will remain headquartered in Pittsburgh and the Kraft brand and business in the Chicago area (Imgage Source: Kraft Foods).
