KRAFT KAVES! Maker of Oreos to Revamp Products: Cites Obesity

Associated Press -- "Kraft to Revamp Products: Cites Obesity" ^ | July 1, 2003 | Deborah Cohen

[MeekOneGOP]

Oh, a kid'll eat the middle of an Oreo first,
and save the chocolate coated outside for last !

sompin' like that . . .

[Old Professer]

My blood pressure for a month afterwards was 87/57. It was probably a good thing while the artery on my heart healed from the cuts that were made from the angioplasy. That's new. The balloon had little razor blades that cut while it expanded and cut the vein on the inside so it could bulge around the blockage.

I never heard of such apparti.

[Old Professer]

Apparati?

[John W]

Two Key Executives Leave Kraft Foods

July 9, 2003 04:27 PM EDT


CHICAGO - Two key executives have left Kraft Foods Inc. in a shakeup that caused the company's stock to drop Wednesday.

The world's second-largest food company behind Nestle announced the departures of Irene Rosenfeld, president of Kraft Foods North America since October, and Michael Polk, president of the biscuit and snacks group.

Both decided to leave to pursue other opportunities, the company said without elaborating.

Prudential Financial called the departures big losses for Kraft - particularly that of Rosenfeld, an integral part of Kraft's management team. "We think it raises some concerns about current business trends," particularly with sales, analyst John McMillin said in a note to investors.

Kraft shares were down $1.16 to close at $31.32 on the New York Stock Exchange.

According to Prudential, Polk left to become the No. 2 executive at Unilever's North American food division while Rosenfeld is thought to be looking for another top position in the industry.

Daryl Brewster, 46, formerly vice president of the North American food unit, succeeds Polk as snacks chief. The company said no replacement will be named for Rosenfeld.

Kraft spokeswoman Donna Sitkiewicz said the five business heads who reported to Rosenfeld will now report directly to Betsy Holden, co-CEO of Kraft Foods and CEO of Kraft Foods North America - the unit that generates 80 percent of the company's profits.

Lance Friedmann, 47, will take over Brewster's duties overseeing operations in Canada, Mexico and Puerto Rico and will become a member of the Kraft Foods North America management committee.

The personnel moves come with the food giant rethinking the way it markets its foods amid rising concerns, and potential lawsuits, about obesity. Kraft said last week it plans to change some product recipes, reduce portions in some single-serve packages, quit marketing snacks via giveaways at school and encourage healthier lifestyles in an effort to combat obesity.

Kraft Foods North America's business boasts the world's best-selling cheese brand in Kraft as well as the top cookie and cracker business in Nabisco.

The Northfield, Ill.-based company releases second-quarter earnings next Wednesday. The company earned $3.4 billion last year on $29.7 billion in sales.

[backslacker]

Woofdog123: In all fairness, a lot of the recent rise in the stock is simply regaining what was lost when that huge appeal bond issue was pending. The stock is only up about 15% in the last 4 months, less than the S&P's approximate 20% gain since march 1.

It's true that large run up in Phillip Morris (Altria, MO:NYSE) is due to the previous lawsuit which depressed the stock price. But for those who follow this stock, ususally they buy when the price is near/below its 52-wk low. When a new lawsuit is initiated, usually its a good practice to buy bits and pieces as the stock begins to tank.