Kraft Heinz appoints new CEO
By Jesse Wright, Staff Writer|May 1, 2019
The Kraft Heinz Company in April announced that the company’s board of directors has appointed Miguel Patricio as Chief Executive Officer effective July 1. Patricio will succeed Bernardo Hees, who will remain CEO through June 30, to ensure a seamless transition.
“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, in a press release.
Patricio is an Anheuser-Busch InBev executive with two decades of experience there and a native of Portugal. Hees has been with the company for six years, though over the last 12 months, Kraft Heinz stock, which closed at a record low of $31.87 on March 14, has tumbled 43 percent after a failed buy of Unilever.