Kraft Heinz picks Steve Cahillane as new CEO

Kraft Heinz on Tuesday named industry veteran Steve Cahillane as its new CEO, ahead of the packaged goods giant’s split into two independent public entities. (AP Photo)

Kraft Heinz on Tuesday named industry veteran Steve Cahillane as its new CEO, ahead of the packaged goods giant’s split.

In September, Kraft Heinz announced it will split into two companies, one focused on sauces and spreads and the other on groceries.

Cahillane, who previously served as CEO of Kellanova until it was acquiredby Mars this year, would also join the company’s board and serve as CEO of the sauces and spreads unit after the split.

Kraft Heinz said its board will also initiate a global search for a CEO to lead its groceries unit.

Cahillane, 61, will join the new role effective Jan. 1, succeeding Carlos Abrams-Rivera who will serve as an advisor until March 6.

(Reporting by Anuja Bharat Mistry in Bengaluru; Editing by Shilpi Majumdar and Leroy Leo)