Kraft Heinz Announces Retirement of Warren Buffett from Board of Directors
The Kraft Heinz Company announced that Warren Buffett will retire from the company’s board of directors following the end of his term, at the upcoming Kraft Heinz 2018 annual meeting of stockholders.
Buffett decided to retire from the board as he decreases his travel commitments. The board of directors intends to nominate Alexandre Van Damme to stand for election at the 2018 annual meeting to fill Buffett’s vacancy.
“It has been an honor to work with Warren for the past five years,” said Alex Behring, chairman of the board of directors. “His many invaluable contributions to Kraft Heinz will have a lasting impact on the Company for years to come. The board of directors looks forward to his continued partnership as chairman of our largest shareholder, Berkshire Hathaway. We are thrilled to add Alexandre’s expertise and perspective to Kraft Heinz, and believe that his executive experience and leadership will be extremely valuable to the Board, our leadership and company as a whole.”
Van Damme is, amongst others, a board member of Anheuser-Busch Inbev and Restaurant Brands International, as well as a director of DKMS, the largest bone marrow donor center in the world.
Kraft Heinz is the owner of an important number of brands, including biscuits, crackers and snacks worldwide.
Photo: forbes.com