Mondelez appoints new senior vice president and controller

Mondelez International, Inc. (NASDAQ:MDLZ) announced a significant change in its executive team today, with the appointment of Brian Stevens as the new Senior Vice President, Corporate Controller & Chief Accounting Officer, effective February 10, 2025.

Stevens, 50, brings extensive experience to the role, having previously served at Baxter International (NYSE:BAX) as Senior Vice President, Chief Accounting Officer and Controller, and briefly as interim Chief Financial Officer. His background also includes tenure at Groupon (NASDAQ:GRPN), Inc. as Chief Accounting Officer and Treasurer, and 16 years at KPMG LLP, culminating in a partnership.

The transition will see Michael Call, who has been Mondelez's principal accounting officer since August 2021, assume the role of Senior Vice President, Finance for the North America region starting February 10, 2025.

As part of his compensation package, Stevens will receive an annual base salary of $545,900, a target annual incentive of 65% of his base salary, and an annual equity grant valued at $550,000, which is split between 75% in performance share units and 25% in stock options. According to InvestingPro, Mondelez currently trades at a P/E ratio of 20.7 and shows signs of being undervalued based on comprehensive Fair Value analysis. The company maintains a "Good" financial health score, supported by strong profitability metrics.

Mondelez has clarified that Stevens' appointment was not the result of any pre-arranged agreement with other persons within the company. Furthermore, Stevens does not share any familial relationships with current directors or executive officers, nor are there any reportable related party transactions between him and Mondelez International, Inc.

This executive shift comes as Mondelez continues to navigate the competitive food and kindred products industry where it holds a significant presence. With the company's next earnings report due on February 4, 2025, and analysts maintaining a strong buy consensus, investors seeking detailed insights can access comprehensive analysis through InvestingPro's exclusive research reports, which offer in-depth coverage of Mondelez and 1,400+ other top US stocks. This information is based on a recent SEC filing by the company.

In other recent news, Mondelez International has seen significant developments. Bernstein analysts reduced their price target for the company to $80, citing challenges such as rising cocoa prices and unfavorable foreign exchange rates. Jefferies followed suit, lowering their rating from Buy to Hold and reducing their price target to $62 due to similar concerns. Piper Sandler also adjusted Mondelez's price target to $70, while Citi revised its own to $71, both due to cocoa inflation.

Mondelez's earnings estimates have been affected, with Bernstein projecting a decrease in earnings per share for 2025 from $3.45 to $3.22, and Piper Sandler reducing their 2025 and 2026 EPS estimates. Despite these headwinds, Bernstein and Citi maintain positive ratings on the company's shares.

In addition to these adjustments, Mondelez announced a strategic partnership with Amazon (NASDAQ:AMZN) Web Services to enhance its operational security, agility, and reliability. The company also revealed a $9 billion share repurchase program and appointed Volker Kuhn as Executive Vice President and President of its European operations, effective April 1, 2025.

Mondelez reported a 5.4% increase in organic net revenue and a 28.6% rise in adjusted earnings per share in the third quarter of 2024. These are the recent developments for Mondelez International.

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