Kraft Heinz on Wednesday said that it is pausing work on its previously announced plans to split the company. CEO Steve Cahillane, who joined Kraft Heinz in January, said in a statement that many of the company’s issues are “fixable and within our control.”
“My number one priority is returning the business to profitable growth, which will require ensuring all resources are fully focused on the execution of our operating plan,” he said. “As a result, we believe it is prudent to pause work related to the separation, and we will no longer incur related dis-synergies this year.”
About Kraft Heinz
Kraft Heinz Company is a leading multinational food and beverage company headquartered in Chicago, Illinois, and Pittsburgh, Pennsylvania. Formed in 2015 through the merger of Kraft Foods Group and H.J. Heinz Company.
The firm produces a wide range of packaged foods, condiments, sauces, and snacks. Iconic brands under its portfolio include Kraft, Heinz, Oscar Mayer, Philadelphia, Planters, and Capri Sun. Financially, Kraft Heinz continues to adapt its strategy post-merger to drive growth, focusing on innovation, cost efficiency, and expanding global markets.
Kraft Heinz operates in more than 190 countries, serving millions of consumers globally. The company focuses on processed and packaged foods, leveraging its extensive distribution network, research & development capabilities, and strong brand recognition.