Kraft Heinz Co's newly-appointed chief executive officer replaced finance c...
FILE PHOTO: Shareholders shop for discounted products at the Kraft Heinz booth at the annual Berkshire Hathaway shareholder meeting in Omaha, Nebraska, U.S., May 4, 2019. REUTERS/Scott Morgan
Basilio had been Heinz’s finance chief when it merged with Kraft in 2015 and remained in the role in the unified company until October 2017, when Kraft Heinz’s second largest shareholder 3G Capital persuaded the board to embark on changes centering around heavy cost-cutting. The change is the first big move by new CEO Miguel Patricio since the Portuguese marketing veteran was brought in from Anheuser-Busch InBev in April with the aim of rebooting Kraft Heinz.
An internal investigation into the company’s accounting issues in May required adjustments of about $208 million related to the costs of products sold, while saying that there had been no misconduct from any member of Kraft Heinz’s senior management.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kraft Heinz names CFO to replace KnopfKraft Heinz Co on Monday named Paulo Basilio as chief financial officer, in a st...
Read more »
Kraft Heinz names CFO to replace KnopfKraft Heinz Co on Monday named Paulo Basilio as chief financial officer, in a st...
Read more »
Katie Price devastated as guard dog 'bites tail off her pet cat'Former glamour girl Katie Price is said to be bringing in a pet counsellor to help diffuse the tensions between her animals after the attack
Read more »
Taika Waititi on 'Thor 4' and Bringing Back Natalie PortmanThe hilarious director also explains his role in 'The Mandalorian'!
Read more »
Trump says others support his call to add Russia back into the G7'We have a number of people that would like to see Russia back,' Trump said when asked if there was an update about adding the former member to the group.
Read more »
Amazon's infamous 1997 letter to shareholders was reportedly co-written by the company's first CFO, Joy CoveyAmazon's first-ever CFO, the late Joy Covey, is said to have co-authored the infamous 1997 letter to shareholders that's attributed to Jeff Bezos.
Read more »