Kraft Heinz hires global brand expert Miguel Patricio as CEO
Bengaluru — Kraft Heinz named Miguel Patricio as its next chief executive on Monday, hoping the 30-year marketing veteran will revitalize brands such as Planters nuts and Oscar Mayer bacon at one of the world's largest packaged food companies. Patricio, a native of Portugal, will take over the top job in July after two decades at Anheuser-Busch InBev, where he rose to become the company's global head of marketing, building sales of beer brands Corona, Budweiser and others. Before AB InBev, Patricio worked at major consumer companies including Philip Morris, Coca-Cola and Johnson & Johnson. He succeeds Bernardo Hees, who was made CEO in 2015 when Kraft Foods and HJ Heinz merged. His appointment comes two months after Kraft Heinz slashed its quarterly dividend, wrote down the value its marquee Kraft and Oscar Mayer brands and other assets by more than $15bn. It also disclosed that it had been subpoenaed by the US Securities and Exchange Commission. Kraft Heinz's second-biggest shar...
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