KRAFT FOODS NAMES TRACEY BELCOURT EVP, STRATEGY FOR FUTURE GLOBAL SNACKS COMPANY
Former Bain & Co. Partner Brings Deep Experience from Various Global Consumer Industries
NORTHFIELD, Ill., Aug. 2, 2012 /PRNewswire/ -- Kraft Foods (NASDAQ: KFT) announced today that Tracey Belcourt will join the company as Executive Vice President, Strategy, in September. Belcourt, 45, will lead the strategy function and mergers and acquisition activities for the global snacks company, Mondelez International, Inc., following the expected spin-off of Kraft's North American grocery business on Oct. 1, 2012. In this role, Belcourt will report to Chairman & CEO Irene Rosenfeld, with responsibility for evolving and implementing the company's growth strategy.
"Tracey is a highly accomplished corporate strategist with extensive background in consumer industries," said Rosenfeld. "She has broad international work experience throughout Latin America, Europe, Asia and Africa. She joins us at an exciting time, as we chart the course for our new global snacks company."
Belcourt has been a partner at Bain & Co. in Toronto since 1999, leading teams that specialized in the design and implementation of growth strategies to improve business performance across a variety of consumer industries. She was an economic consultant to the U.S. Agency for International Development in Africa in 1999, and prior to that, served for five years as an assistant professor of economics at Concordia University in Montreal. Belcourt earned a master's degree and Ph.D. in economics from Queen's University in Canada and a bachelor's degree in mathematics and economics from the University of Alberta.
The announcement of Tracey, together with the recent announcement of Kim Rucker as General Counsel of the future North America grocery company completes the leadership teams of the two companies for the spin-off.
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, NASDAQ 100, 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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