The Odd Couple At Heinz

The Tony O'Reilly show is proceeding in Pittsburgh's ornate Heinz Hall as it does every September. The chairman of H.J. Heinz Co.--media baron and former rugby idol--has the shareholder audience in his pocket. In his rich Irish baritone, he wanders off-script to crack jokes and compliment an elderly questioner on her beauty. But this year, something is different. O'Reilly, who has stood alone atop Heinz for 17 years, orders another podium wheeled onstage and introduces a younger, American colleague to read a dry summary of Heinz's operating businesses. At 60, Anthony J. O'Reilly appears to be grooming a successor.

The plain-talking William R. Johnson, named Heinz president and chief operating officer in June, will never be mistaken for the bon vivant O'Reilly. That's probably a plus, ensuring that he won't eclipse his spotlight-loving boss. But what Johnson's chance at the top job really depends on is making the numbers--and at Heinz, that means registering double-digit earnings growth. It's a tough task, given the company's pantry of mature brands. "Americans are not going to treble their consumption of ketchup," O'Reilly admits.