At Kraft, a Fresh Big Cheese

Investors may not care that Irene Rosenfeld's appointment as CEO makes the food giant the world's largest company led by a woman. What they want is a healthier stock price

It's a homecoming for Kraft Food's new chief executive officer, Irene Rosenfeld. The 53-year-old Rosenfeld, named to the foodmaker's top spot on June 26, spent more than 20 years at Kraft before leaving three years ago. Rosenfeld has headed Frito-Lay, Pepsi's (PEP) snack's division, since the fall of 2004.

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