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The Kraft Heinz Company (NASDAQ:KHC), a $31 billion consumer staples giant currently trading near its 52-week low, announced Wednesday that Marcos Eloi Lima, Executive Vice President and Chief Procurement and Sustainability Officer, will step down from his role effective August 1. According to InvestingPro analysis, the company maintains a GOOD financial health score and offers investors a substantial 6% dividend yield. According to a statement released through a Securities and Exchange Commission filing, Lima will remain with the company as an advisor until March 6, 2026.
Janelle Aydin, who currently serves as Chief Procurement Officer for North America at Kraft Heinz, will assume the position of Chief Procurement and Sustainability Officer on August 1. The company did not provide additional details regarding the reasons for the leadership transition or information about the compensation arrangements related to the change.
This information is based on a press release statement included in the company’s SEC filing.
In other recent news, Kraft Heinz has amended its existing $4 billion revolving credit facility, extending the maturity date by one year to July 8, 2030. This amendment, involving Kraft Heinz Foods Co and its lenders, includes revisions to the minimum shareholders’ equity financial covenant. Additionally, Kraft Heinz announced plans to phase out artificial colors from its U.S. products by the end of 2027, with nearly 90% of its U.S. sales already free from synthetic dyes. The company aims to replace artificial colors with natural alternatives or new solutions where necessary.
In another development, Stifel analysts have maintained a Hold rating on Kraft Heinz, setting a price target of $30. The firm highlighted Berkshire Hathaway (NYSE:BRKa)’s recent decision to step back from board representation, which will reduce the Kraft Heinz board from 12 to 10 members. This move aligns with Berkshire Hathaway’s strategy for its non-controlled investments, as it holds about 27% of Kraft Heinz shares. Stifel noted that Kraft Heinz is exploring strategic transactions to enhance growth and profitability, focusing on divesting from slower-growing categories and acquiring businesses that fit its Priority Platforms.
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