Thursday, 14 December 2017

 

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Mondelēz International announces that its board of directors has unanimously selected Dirk Van de Put, current president and CEO of McCain Foods, to succeed Irene Rosenfeld as CEO of Mondelēz International, as she steps down effective November 2017.

Van de Put will also join the company's board of directors. Rosenfeld will continue as chairman of the board until March 31, 2018, at which point she will retire and Van de Put will assume the role of chairman and CEO.
Irene Rosenfeld said: "Throughout my tenure as CEO, the world and our industry have undergone a period of unprecedented change. During that time, we anticipated emerging challenges, adapted accordingly and created significant value for our shareholders. The outlook is bright for this great company — one of the few that has consistently delivered on both the top and bottom lines, while making critical investments for future growth."
Van de Put brings nearly 30 years of experience in the food and consumer package industry to this new leadership role. He joins Mondelēz International from McCain Foods, a CAD9.1bn (USD7.3bn) privately held Canadian company that is the largest marketer and manufacturer of frozen French fries, potato specialties and appetizers with sales in more than 160 countries. During his six-year tenure as CEO, he grew net sales by more than 50%.
Prior to joining McCain, Van de Put held executive positions with Novartis, Groupe Danone, The Coca-Cola Company and Mars, Incorporated. He graduated with a Doctorate in Veterinary Medicine from the University of Gent in Belgium and a post-graduate in marketing and management from the University of Antwerp. Van de Put is fluent in five languages, including English, Dutch, French, Spanish and Portuguese.
Mondelēz International has also reported its second quarter 2017 results, showing that net revenues decreased 5.0%, driven by the malware incident and currency headwinds. Organic Net Revenue decreased 2.7%, primarily driven by the impact of the malware incident, which negatively affected shipments at the end of June.
"We delivered strong margin expansion and double-digit EPS growth in the quarter despite the revenue impact from the malware incident at the end of June," said Irene Rosenfeld. "We're seeing improved trends in Europe and across many of our emerging markets, and our North America business is on track for a stronger second half. In addition, as a result of our improving free cash flow outlook, we're increasing our dividend payout."
Gross profit margin was 38.8%, a decrease of 110 basis points, driven primarily by the unfavorable impacts from currency and commodity hedging activities.  

Related articles: 

Mondelēz to Target Volume Growth in Europe 

Mondelez International Opens R&D Hub in Poland 

Mondelēz International Expands Barni Kids Wholesome Platform

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