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Stock impact report

Kraft Heinz halts split, new CEO says problems are ‘fixable' [BNN Bloomberg (Canada)]

The Kraft Heinz Company (KHC) 
Last the kraft heinz company earnings: 4/30 07:05 am Check Earnings Report
US:NASDAQ Investor Relations: ir.kraftheinzcompany.com/overview
Company Research Source: BNN Bloomberg
Shares of Kraft Heinz were down about five per cent in premarket trading. It first announced plans to split into two companies - one focused on groceries and the other on sauces and spreads- in September, after never achieving the kind of growth expected when Kraft and Heinz were merged a decade ago. “My number one priority is returning the business to profitable growth, which will require ensuring all resources are fully focused on the execution of our operating plan. As a result, we believe it is prudent to pause work related to the separation and we will no longer incur related dissynergies this year,” Cahillane, who took charge in January, said. The company had expected to close the spinoff at the end of 2026 and brought on industry veteran and former Kellogg boss Cahillane to guide it through the split. Kraft Heinz, like other packaged food companies, has been struggling with weak demand for its pricier condiments and pantry staples as consumers look for cheaper options. Show less Read more
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