Kraft's CEO on the Cadbury Uproar

Cadbury was a compelling strategic opportunity for us, but I knew there were enormous sensitivities. It was a hostile transaction. It was a transatlantic takeover of an iconic U.K. brand. Shareholders like Warren Buffett expressed concern that we were using stock. There was a public outcry. I had hoped it would be a friendlier transaction, but the challenge was that the target wasn't anxious to be acquired.

We spent a lot of time thinking about how best to approach all stages of the deal. When we were asked to appear before a U.K. parliamentary committee, I made the decision that only those closest to the business should go. I didn't feel there was a need for me to attend. We had answered all their questions; there was no new information. We'd met with lawmakers and addressed these issues. I've spent a lot of time in the U.K. with the folks that really matter to me, employees and other constituents. Appearing before the panel was not the best use of my personal time.