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Buffett-Backed Kraft Heinz Turns to a New CEO With `Fresh Eyes'

  • Big Food giant has been hampered by failure to get a deal done
  • Patricio, a beer industry veteran, takes the helm on July 1
Bloomberg business news
Kraft Heinz Brings in New CEO as It Looks to Break Out of Slump
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Kraft Heinz Co. is bringing in a new chief executive officer as it looks to break out of a prolonged slump that’s hampered the company since its bid to buy Unilever fell apart more than two years ago.

The company is tapping longtime Anheuser-Busch InBev executive Miguel Patricio to replace Bernardo Hees, who has led Kraft Heinz since the company was created in a 2015 merger orchestrated by Warren Buffett and 3G Capital. Patricio served for several years as chief marketing officer at Anheuser-Busch, which counts the private equity firm’s founders as some of its biggest shareholders.