Kraft Heinz appoints three new directors amid company separation

PITTSBURGH & CHICAGO - The Kraft Heinz Company (NASDAQ:KHC) announced Wednesday the appointment of three new independent directors to its board, effective October 22, 2025, as the company prepares to separate into two independent, publicly traded entities.

The new appointees include L. Kevin Cox, a former human resources executive at GE and American Express; Mary Lou Kelley, who previously served as President of E-Commerce at Best Buy; and Tony Palmer, a consumer packaged goods veteran with experience at Kimberly-Clark, Kellogg Company, and Coca-Cola.

"Each of them brings extensive senior management expertise from complex, large-scale corporations, as well as other board experience," said Miguel Patricio, Executive Chair of the Board of Directors, in a press release statement.

Cox most recently provided strategic consulting services through his firm LKC Advisory LLC after serving as Senior Vice President and Chief Human Resources Officer at GE from 2019 to 2023. He previously held a director position at Kraft Foods Group from 2012 to 2015.

Kelley led Best Buy’s e-commerce operations from 2014 to 2017, overseeing the company’s online business and digital strategy. She currently serves as a director at Yeti and Finning International.

Palmer, now an Operating Partner at One Rock Capital Partners LLC, previously held leadership roles at Kimberly-Clark, including President of Global Brands and Innovation. He currently serves as a director at Brambles, a supply chain logistics company.

Kraft Heinz CEO Carlos Abrams-Rivera noted the new directors’ expertise would be valuable as the company focuses on "driving performance within our existing business, while simultaneously separating into two independent, publicly traded companies."

The food manufacturer reported approximately $26 billion in net sales for 2024, according to the company’s press release. While InvestingPro analysis indicates the company isn’t currently profitable, analysts project a return to profitability this year. Investors looking for deeper insights can access the comprehensive Pro Research Report, available for Kraft Heinz and 1,400+ other top US stocks, which provides detailed analysis of the company’s financial health and future prospects. The company is scheduled to report its next earnings on October 29, 2025, which could provide more clarity on its separation plans and financial trajectory.

In other recent news, Kraft Heinz is preparing for its third-quarter earnings report, with UBS maintaining a Neutral rating and a $27.00 price target on the company’s stock. Analysts at TD Cowen have also reiterated a Hold rating, lowering their sales and earnings estimates due to competitive pressures and international challenges, specifically noting a reduction in the third-quarter organic sales estimate to -2.4%. Piper Sandler continues to hold a Neutral rating with a $30.00 price target, citing ongoing challenges in retail and increased price competition in deli meats. Meanwhile, Bernstein’s analyst has reiterated a Market Perform rating, focusing on potential deals following Kraft Heinz’s planned corporate split. In a strategic move, Kraft Heinz Canada has announced a multi-year partnership with Maple Leaf Sports & Entertainment, marking the return of Heinz products to MLSE venues after a six-year absence. This partnership designates Heinz as the Official Ketchup of the Toronto Maple Leafs and Toronto Raptors for the 2025-2026 season and beyond. These developments highlight the dynamic environment Kraft Heinz is navigating as it approaches its upcoming earnings announcement.

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