Dive Brief:
- John Cahill will be Kraft Foods Group's next CEO, according to a news release.
- Cahill, who is the chairman of the board of directors, will be replacing Tony Vernon, who plans to retire Dec. 27.
- "With the company on solid footing after the spin-off, the time is right for new leadership to fulfill our potential as the industry leader," Mackey J. McDonald of Kraft said. "The board and Tony agree that we need to accelerate the pace of change."
Dive Insight:
Vernon had kind words for the CEO incumbent. "I've worked in close partnership with John Cahill, an outstanding executive in the consumer industry, and have no doubt that the Kraft team will benefit from his strong leadership in the months and years to come," he said.
Cahill noted the many changes affecting the industry and how Kraft must keep up with and anticipate them.