Kraft's New Grocery Company Plans Marketing Boost in Search of 'Renaissance'

Mr. Vernon also pledged that the company would become a “lean, horizontal” organization, moving away from a culture at old Kraft that had he characterized as being too reliant on “entitlement.” Part of the reorganization is already underway, including the elimination of 2,000 positions in the past two years, while “layers of management” have been removed, he said. The goal, he said, is to “let our bright, talented people create and innovate without having to look to headquarters for answers and directions at every step.” At company headquarters in suburban Chicago, office walls are being taken down to create a more open environment. “The stately cherry paneling of our previous executive offices will soon be history,” Mr. Vernon said.

Published

13 years ago

September 8, 2012

BusinesSuiteOnline

Kraft is betting that the split will bring more focus to brands while creating two distinct investment choices for Wall Street. Mondelez is positioned as a high-growth company with penetration in developing markets, such as Brazil and India, while Kraft Foods Group is full of category-dominant meat and cheese brands, which act as cash cows that will generate consistent dividends for investors. When the split is final, Kraft Foods Group will become the fourth-largest food and beverage company in North America, trailing PepsiCo ($36 billion), Nestle ($26 billion and Coca-Cola ($21 billion), according to Kraft.

The trick for Kraft Foods Group will be to differentiate its grocery brands in categories that risk becoming commoditized. Mr. Vernon signaled that marketing will be a key cog in that endeavor. In outlining his priorities, he said that advertising was “dearest to my heart” and suggested that Kraft would spend more to catch up to peers. Kraft Foods Group brand spent 2.9% of its net revenue on advertising in the latest fiscal year, compared to the 4.5% average spent by competitors, including 8.6% by Kellogg Co., 6.4% by Campbell Soup. Co. and 5.5% by General Mills, according to a slide Mr. Vernon showed analysts.

“We can and we must do more to support our brands,” he said

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John Mahfood “I Listed on the JSE to Raise Capital for My Business”

Published

8 years ago

November 24, 2016

Managing Editor

JSE Online Trading Platform

Published

8 years ago

November 24, 2016

Managing Editor

Grace Stockholders To Vote On 3-for-1 Stock Split Today

Published

9 years ago

July 11, 2016

BusinesSuiteOnline

Shareholders of GraceKennedy Limited will this morning meet to consider and, if thought fit, approve a recommendation for a three-for-one stock split.

If approved, shareholders will receive three stocks for each one that is currently held.

According to group CEO Don Wehby, the stock units with a market price of J$115.00 per stock unit prior to the split will now increase threefold with an initial price of J$38.33 per stock unit

He says the stock split would allow GK’s stock to be made available to more investors while further enhancing the market for the shares.

Ahead of this morning’s Extraordinary General Meeting, GK last week issued 59,360 additional GK shares.

UK Loses S&P Triple A Rating

Published

9 years ago

June 27, 2016

BusinesSuiteOnline

The UK has lost its top AAA credit rating from ratings agency S&P following the country’s vote to leave the EU.

S&P says the referendum result could lead to “a deterioration of the UK’s economic performance, including its large financial services sector”.

Earlier the pound plunged to a 31-year low against the dollar, and UK markets closed lower for a second day. On Friday,

Moody’s cut the UK’s credit rating outlook to negative.

Caribbean Hotels Named In Jetsetters’ 2016 Best Of The Best

Published

9 years ago

June 27, 2016

BusinesSuiteOnline

Three Caribbean hotels have been named in US-based travel and lifestyle magazine Jetsetter’s 2016 Best of the Best awards.

The list which was published recently, highlighted the world’s 20 best hotels in categories ranging from Best Over-The-Top Luxury to Best Safari Lodge.

Included in the list were Antigua and Barbuda’s Barbuda Belle Luxury Beach Hotel, Anguilla’s Zemi Beach House Resort & Spa, and St Lucia’s BodyHoliday.