KRAFT FOODS NAMES KIM RUCKER EVP, CORPORATE AND LEGAL AFFAIRS, FOR FUTURE NORTH AMERICAN GROCERY COMPANY
Avon Executive Brings Outstanding Legal, Corporate Governance and CPG Experience to Role
NORTHFIELD, Ill., July 19, 2012 /PRNewswire/ -- Kraft Foods (NASDAQ: KFT) announced today that Kim Rucker will become Executive Vice President, Corporate & Legal Affairs, Kraft Foods North America in late August. Rucker, 45, joins the company from Avon Products, Inc. where she serves as Senior Vice President, General Counsel, Corporate Secretary and Chief Compliance Officer. She will join Vernon's Management Team and lead the legal, corporate governance and corporate affairs functions. Upon launch of Kraft Foods Group, Inc. later this year, Rucker will become Executive Vice President, Corporate & Legal Affairs, General Counsel and Corporate Secretary. Rucker will report to North America President and future CEO Tony Vernon.
"Kim's extensive experience providing strong strategic and legal counsel to Boards of Directors, CEOs and executive teams of large public companies will be invaluable as we become a stand-alone entity," said Vernon. "Her broad and deep background in law and corporate governance, plus her knowledge of the CPG sector, make her an important asset to our team. I look forward to working closely with Kim as we become a world-class public company and North America's favorite food and beverage business."
Since 2008, Rucker has led Avon's global legal operation, including corporate governance, compliance, litigation, government affairs and intellectual property. Prior to joining Avon, she was Senior Vice President, Corporate Secretary and Chief Governance Officer for Energy Future Holdings, formerly TXU Corp. Previously, Rucker was corporate counsel for Kimberly-Clark Corporation and a partner in the Corporate & Securities group at Sidley Austin in Chicago.
"I am extremely delighted and honored to join a world-class executive team and a company embarking on an exciting future," said Rucker. "It's a unique opportunity to help build on Kraft's long-standing leadership in making great foods and beverages for families throughout North America."
A Harry S. Truman Scholar, Rucker holds a bachelor's degree in economics from the University of Iowa. She simultaneously earned her Juris Doctorate from Harvard Law School and a master's degree in public policy from the John F. Kennedy School of Government at Harvard.
A Chicago native, Rucker and her family will relocate back to the area.
About Kraft Foods
Kraft Foods Inc. (NASDAQ: KFT) is a global snacks powerhouse with an unrivaled portfolio of brands people love. Proudly marketing delicious biscuits, confectionery, beverages, cheese, grocery products and convenient meals in approximately 170 countries, Kraft Foods had 2011 revenue of $54.4 billion. Twelve of the company's iconic brands – Cadbury, Jacobs, Kraft, LU, Maxwell House, Milka, Nabisco, Oreo, Oscar Mayer, Philadelphia, Tang and Trident – generate revenue of more than $1 billion annually. On Aug. 4, 2011, Kraft Foods announced plans to divide and create two independent public companies: a high-growth global snacks business and a high-margin North American grocery business. The transaction is expected to be completed before the end of 2012. A leader in innovation, marketing, health & wellness and sustainability, Kraft Foods is a member of the Dow Jones Industrial Average, Standard & Poor's 500, Dow Jones Sustainability Index and Ethibel Sustainability Index. Visit kraftfoodscompany.com and facebook.com/kraftfoodscorporate.
This press release contains a number of forward-looking statements. Words, and variations of words such as "expect," "will," and similar expressions are intended to identify our forward-looking statements, including but not limited to, our plan to create two industry-leading public companies; timing of the spin-off; and expectations for the North American grocery company. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause our actual results to differ materially from those indicated in our forward-looking statements. Please see our risk factors, as they may be amended from time to time, set forth in our filings with the SEC, including our most recently filed Annual Report on Form 10-K and subsequent reports on Forms 10-Q and 8-K. Kraft Foods disclaims and does not undertake any obligation to update or revise any forward-looking statement in this press release, except as required by applicable law or regulation.
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