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Billionaire Lemann Is Stepping Down From Kraft Heinz’s Board

Jorge Paulo Lemann
Jorge Paulo LemannPhotographer: Dania Maxwell/Bloomberg
Updated on

Jorge Paulo Lemann is leaving the board of Kraft Heinz Co., the giant consumer company he helped put together with Warren Buffett that’s since lost half its value.

Lemann “has decided to reduce his travel commitments and will not seek re-election”, the company said in a regulatory filing. The decision “is not the result of any disagreement with management or the board.”