Kraft Heinz appoints new CEO as it shifts from slashing costs

The company has been facing scrutiny from investors as sales continue to decline and the SEC investigates internal policies. ‘The CEO’s first concern has to be people,’ Kraft’s new chief said.

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As debt mounts and sales slump, The Kraft Heinz Company is hoping a new chief can help lead the company in a different direction.

On Monday, Kraft Heinz announced that its chief executive officer, Bernardo Hees, is stepping down. Miguel Patricio, former chief marketing officer for Anheuser-Busch InBev, will take over the position effective June 30.

The company touted Patricio’s career accomplishments as it announced the change.

In a press release, Kraft Heinz wrote:

“Miguel is a proven business leader with a distinguished track record of building iconic consumer brands around the globe, driving top-line revenue growth through a focus on consumer-first marketing, innovation, and people development,” said Alex Behring, Chairman of Kraft Heinz’s Board of Directors.

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