Kraft Heinz to elevate CEO Miguel Patricio as Chair

US-based F&B company, Kraft Heinz, plans to name its CEO Miguel Patricio as its Chair, provided he gets re-elected at the Kraft Heinz 2022 annual stockholders meeting.

After many years of distinguished service as the Chair of the Board of Directors, Alexandre Behring will be retiring at the close of his term in 2022 at the annual meeting.

Before being hired by Kraft Heinz in 2019, Patricio was employed for nearly 20 years with Anheuser-Busch InBev (AB InBev). He was part of the executive leadership team, holding various positions that drove organic growth and industry-leading margins. In addition, he was the chief marketing officer for AB InBev from 2012-to 2018.

"We are delighted with the accomplishments made by the company in developing its strategic plan over the last few years under Miguel's direction and view his promotion to the chair position as a natural step, giving him a solid and steady stewardship that will guide the company into the future. I've had a great time working with Miguel as well as the Board as well as those on the Kraft Heinz leadership team," Behring said.

"Alex's involvement with Kraft Heinz has been invaluable and his contribution will be felt for a long time. I am truly honored to have the opportunity to succeed Alex as Chair," said Patricio. "On behalf of Berkshire Hathaway, I would like to acknowledge Alex for his commitment as a leader, and for his contribution towards Kraft Heinz. Alex and me have been working closely since 2013 in which we both were as members of the H.J. Heinz Board, and I am confident that our relationship will continue far into the future." stated Greg Abel, member of the Kraft Heinz Board of Directors and Vice-Chair of Non-Insurance Operations of Berkshire Hathaway. "We are looking forward to working together with Miguel as Chair while his vision of the Company's transformation continues to propel the company ahead."

The company also revealed that its Board of Directors had nominated James Park of Fitbit at Google to be a candidate in the election during the Kraft Heinz 2022 annual meeting.

"I am also very excited about the possibility of adding James Park to our Board," Patricio said. "Technology as well as digital capabilities are vital components of our business plan. His experience and background will be particularly beneficial for Kraft Heinz and the Board when we embark on this next stage of transformation."

Park, 45 is a tech businessman who founded Fitbit, Inc., an online fitness and health company purchased by Google in January 2021. Park is vice general manager and vice president, Fitbit for Google. He was previously the chief executive officer and president and chairman of the Board of Directors at Fitbit since 2007 and director chairman until 2015 until the acquisition. He is a pioneer in the tech industry and has extensive experience creating and managing profitable technology businesses.