Kraft Heinz Appoints Miguel Patricio as New CEO

The Kraft Heinz Company announced that the Company’s Board of Directors has appointed Miguel Patricio as Chief Executive Officer effective July 1, 2019. Mr. Patricio will succeed Bernardo Hees, who will remain CEO through June 30, 2019.

“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 in a press release, Alex Behring, Chairman of Kraft Heinz’s Board of Directors.

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Kraft Heinz is one of the largest global food and beverage companies, with 2018 net sales of approximately $26 billion.

Hees led the acquisition of Heinz in 2013 and the merger of Kraft and Heinz in 2015. Under his tenure, Kraft Heinz achieved industry-leading margins and sales performance in line with its U.S. peers, developed an organization with best-in-industry quality standards, and built in-house capabilities for category management, including revenue and assortment management, according to the Chairman of Kraft Heinz’s Board of Directors.

“It has been an honor to serve as CEO of Kraft Heinz and to see it through its transformation over the last six years,” said Mr. Hees. “I have confidence that Miguel Patricio and the team will take Kraft Heinz to new heights.”

A native of Portugal, Mr. Patricio will join the Company after a successful career spanning two decades at Anheuser-Busch InBev (AB InBev), where he served as part of the Executive Leadership team in various positions, driving organic growth and industry-leading margins.

At AB InBev, Mr. Patricio served as the Global Chief Marketing Officer from 2012 to 2018. In this role, he helped develop and implement a strategic playbook for global brands Corona, Budweiser and Stella Artois, accelerating organic sales growth to high single digits.

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In his final year as chief marketer, AB InBev was the most awarded brand owner at Cannes Lions 2018, the global benchmark for effective creative marketing communications.

He was AB InBev’s President of Asia Pacific from 2008 to 2012 and President of North America from 2006 to 2008, providing him with deep experience in growing businesses in developed and emerging markets.

Prior to AB InBev, Mr. Patricio has worked at other consumer companies including Philip Morris, The Coca-Cola Company and Johnson & Johnson in Latin America, New Jersey, and Georgia.

“Kraft Heinz is an incredible company with iconic brands that are loved around the world,” Mr. Patricio said. “It will be a privilege and an honor to lead such a talented group of employees as we focus on the consumer to capitalize on the growth opportunities that exist in the rapidly evolving food industry.”

Information provided by Business Wire.

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