Kraft Heinz has appointed Miguel Patricio as CEO, effective July 1. He will succeed Bernardo Hees, who has been with the manufacturer for six years and led the merger of Kraft and Heinz in 2015. Head of Strategic Projects Eduardo Pelleissone is also leaving the company effective June 30, according to CNBC.
Patricio previously spent two decades at Anheuser-Busch InBev, where he served on the Executive Leadership team in various roles. He was most recently Global Chief Marketing Officer, where he helped develop and implement a strategic playbook for the Corona, Budweiser and Stella Artois brands. Patricio previously held positions at Philip Morris, The Coca-Cola Company and Johnson & Johnson.
The executive shakeup is occurring at an important time for Kraft Heinz, which has been struggling with slow sales growth and a 20% decline in share value this year. Patricio plans to improve Kraft Heinz by increasing speed, organic growth and brand building and making the company more consumer focused.