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Home / Business / Kraft Heinz appoints the new CEO of Miguel Patricio of AB InBev

Kraft Heinz appoints the new CEO of Miguel Patricio of AB InBev



After AB InBev halved its dividend last year to repay the debt, its own management was dissolved. In March, it was announced that he would get two former executives of AB InBev back on the board.

Portuguese-born Patricio said he has no affiliation with 3G and emphasized that he has a new perspective for Kraft Heinz

"I have a very different background with my experience with consumer food," he said.

During his run at AB InBev, Patricio oversaw brands such as Corona, Budweiser and Stella Artois and increased their organic sales growth to up to the high single-digit amount, nearly one third of the company's organic growth in 201

8. In his last year as Chief Marketing Officer, AB InBev was the most awarded brand owner at the Cannes Lions Awards for Advertising and Creative Communications.

Patricio's previous roles At AB InBev, he served as President of Asia Pacific for four years and as President of North America for two years. He also held positions with Philip Morris, Coca-Cola and Johnson & Johnson.

However, the food industry is more fragmented and diverse than the beer sector, an attribute Patricio is not worried about.

"Consumer goods" There are consumer goods, "he said, adding," Where there is transformation, there are opportunities. "

However, there are plenty of upheavals, with emerging food brands appearing daily, drawing consumer attention stealing the market share of all old companies from General Mills to Kellogg Under their own competitive pressures, retailers are also pushing the once-valued Big Food profit margins and filling their own shelves with their own products, undercutting traditional brands.

Kraft has Heinz iconic brands like Philadelphia Cream Cheese and Heinz Ketchup still have global appeal and special places in pantries and refrigerators, the Heinz brand has grown 26 percent over the last six years, according to Nielsen.

But others too, such as Maxwell House Coffee and Oscar Mayer meat, which seems to be in contact with the Verbr According to Nielsen, competitors have lost their shopkeepers and are faced with cheap competition. Kraft under Hees said there would be divestitures of brands that gave it "no competitive advantage" since leverage would triple the profit before depreciation and amortization of interest and not on the four would go down times when analysts said say that it is currently fixed. It has $ 3 billion of debt due in 2020 and may need to be refinanced.

Maxwell House Coffee and Breakstones cottage cheese and sour cream are among those rated Kraft Heinz, CNBC reports.

Patricio declined to comment on possible divestments or acquisitions.

As he defines the success of Kraft Heinz, he said he will look at both sales and the bottom line, without specifying any concrete goals.

"It's like playing sports, either winning or not."


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