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Kraft Paying $6 Million To Executive Handling Company's Split

Kraft Foods (KFT) is paying private-equity executive John Cahill $6 million in total annual compensation to help spearhead the company's planned split into two companies later this year. Cahill's annual base salary is $750,000 plus restricted stock units and stock options valued at $4.5 million. He'll also get a bonus payment. His employment contract, part of Kraft's 10-K filing Monday, also includes an annual cash allowance of $125,000. Cahill is further eligible for a yearly $15,000 car allowance. In early January, Kraft hired Cahill as executive chairman reporting to Kraft CEO Irene Rosenfeld. Kraft is in the process of splitting its snacks and grocery units into two publicly traded companies. Cahill is also serving as non-executive chairman of Kraft's grocery business. A partner at Ripplewood Holdings, Cahill is a former CEO of Pepsi Bottling Group, and according to FactSet Research, is the chairman of Hostess Brands, which last month filed to reorganize under Chapter 11 bankruptcy laws. Ripplewood owns a large stake in Hostess. Cahill also serves on the boards of Colgate-Palmolive (CL) and Legg Mason (LM). -Matt Andrejczak; 415-439-6400; AskNewswires@dowjones.com

Stock News for Kraft (KFT)
DateTimeHeadline
06/18/201213:40:20Kraft Offers to Exchange Up to $3.6 Billion in Debt
06/12/201208:24:25DE Master Blenders Seeks to Become No 2 Maker of Coffee, Tea
06/08/201210:50:11Kraft Foods Will Transfer Listing to Nasdaq
06/08/201210:05:20Kraft Foods Will Transfer its Exchange Listing to Nasdaq
05/31/201216:56:10Corporate Bond Volume Tops May Forecasts Despite Volatility
05/30/201214:55:46Kraft Issuing $6 Billion Of Bonds As Treasurys Rally
05/18/201216:04:39Kraft Lowers Prices On Maxwell House, Other Coffee Brands -Reuters
05/18/201210:05:31Kraft: IRS Confirms Tax-Free Status Of Spinoff
05/15/201218:54:34Ackman's Pershing Square Slashes Kraft Stake By Nearly 27%
05/15/201217:58:10Buffett's Berkshire Shows New Stakes In General Motors, Viacom
05/04/201214:47:10US Stocks Tumble After Jobs Report; Nasdaq Faces Year's Biggest...
05/03/201216:55:15Kraft 1Q Profit Up 1.8% As Revenue Strengthens, Margins Weaken
05/03/201212:24:36Ackman's Pershing Square Funds Gain 1% In April
04/17/201215:44:24Demand Rises For Rainforest Alliance Coffee And Other Crops
04/13/201202:29:48European 1Q Cocoa Grindings Fall 0.1% On Year - ECA
04/12/201215:38:38Kraft Ends Athenos Greek-Yogurt Line, Exits Fast-Growing Space
04/10/201214:12:10EARNINGS PREVIEW: Consumer-Product Cos Take Steps To Defend Market...
04/06/201217:56:10Kraft Recalls Batch Of Planters Peanut Snacks
04/03/201215:46:12Kraft Lifts The Lid On Its Grocery Business
04/03/201210:07:22Kraft CEO's Total 2011 Compensation Up 13.5% To $21.9 Million

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