DEERFIELD, Ill., Dec. 3, 2012 /PRNewswire/ -- Mondelez
International (NASDAQ: MDLZ) announced today that Sanjay Khosla, 61, Executive Vice President and
President, Developing Markets, will retire in the spring of next
year.
(Logo: http://photos.prnewswire.com/prnh/20121003/MM86695LOGO)
"Having built our Developing Markets business into the growth
engine of the company and a critical part of our global portfolio,
Sanjay and I have been discussing since last year the best time for
him to retire to pursue his passions for teaching, writing and
board work," said Irene Rosenfeld,
Chairman and CEO. "With the spin-off completed and our new
company successfully launched, we've agreed that now is the right
time."
"I'm pleased to be leaving the company having largely
accomplished the challenge Irene put before me when I first
arrived: to dramatically increase our Developing Markets business,"
Khosla said. "Moreover, I'm especially proud of the
tremendous talent we've developed throughout the
organization. Indeed, the people who will continue to lead
the regions have earned their promotions. And I'm confident
they will drive top-tier growth going forward."
Following his retirement, Khosla will continue to work with the
company through the end of 2013 in a consulting capacity to sponsor
and further advance Mondelez International's leadership development
programs.
Since joining the company in 2007, Khosla and his Developing
Markets team have doubled the business through organic growth and
more than tripled it after acquisitions, while also significantly
improving profitability. With more than $16 billion in revenue, Developing Markets
represent about 44 percent of Mondelez International's 2011 net
revenue.
Five Operating Units
Given the size and importance of Developing Markets to the
future growth of Mondelez International, the company announced that
it would streamline its operating unit structure. Effective
Jan. 1, 2013, Mondelez International
will have five operating units: Europe; North
America; Latin America;
Asia Pacific; and Eastern Europe, Middle East & Africa (EEMEA).
"I'm confident that this new streamlined region structure will
fuel our growth by enhancing collaboration, expediting decision
making and driving efficiencies," Rosenfeld said.
The following operating unit leaders will report directly to
Rosenfeld in the new structure:
- Tim Cofer will continue to lead
the company's European business, which will now include Central
European countries. This expanded region represents about 41
percent of the company's net revenues. Prior to assuming his
current role in 2011, Cofer led the company's global Chocolate
category and its integration efforts following the acquisition of
Cadbury. His 20-year career also included a successful tenure
leading the company's former U.S. pizza business.
- Pradeep Pant, who led the turnaround of the company's business
in Asia Pacific, will continue to
lead that region. He will also oversee the newly formed EEMEA
region. Lawrence MacDougall,
who currently leads the company's business in the Middle East and Africa, will lead the expanded EEMEA region
reporting to Pant. These two regions represent about 24
percent of the company's revenues. Prior to joining the
company in 2008, Pant held senior leadership roles at Fonterra
Brands and Gillette, including more than 30 years of successful
experience growing markets across Asia, Africa,
the Middle East and Eastern Europe.
- Mark Clouse will continue to
lead the company's North American business, which represents about
19 percent of revenues. Prior to assuming his current role in
2011, Clouse led the global Biscuits category following successful
stints leading the company's operations in Brazil and China. During his 16 years
with the company, he has held a series of senior leadership roles
in the company's former North American businesses.
- Gustavo Abelenda will continue
to lead the company's Latin American business, which represents
about 16 percent of revenues. Abelenda joined the company in
1984 in Argentina and has
extensive experience throughout the region in senior finance,
strategy, sales, marketing and general management roles. He
assumed his current role in 2003.
Chief Customer Officer and Gum & Candy Category
The company also announced that Trevor
Bond, Chief Customer Officer in charge of global sales, will
lead an increase in focus on sales and additionally take on
leadership for the Gum & Candy Global Category Team as
President, Chief Customer Officer and Global Gum and Candy Category
Leader. This combined role will accelerate sales synergies in
the Gum & Candy category, particularly in the Hot Zone at the
point of purchase.
Jim Cali, who has led the
company's Gum category since 2006 and Gum & Candy category
since 2008, will become SVP Snacking Strategy and Innovation.
In this new role, he will advance the company's global snacking
strategy by spearheading the launch of key brands in white-space
markets and leveraging his expertise to drive innovation best
practices across snacking categories.
Bond and Cali will report to Mary Beth
West, EVP and Chief Category and Marketing Officer.
West will continue to report to Rosenfeld.
About Mondelez International
Mondelez International, Inc. (NASDAQ: MDLZ) is a world leader in
chocolate, biscuits, gum, candy, coffee and powdered
beverages. The company comprises the global snacking and food
brands of the former Kraft Foods Inc. following the spin-off of its
North American grocery operations in Oct. 2012. Mondelez
International's portfolio includes several billion-dollar brands
such as Cadbury and Milka chocolate, Jacobs
coffee, LU, Nabisco and Oreo biscuits,
Tang powdered beverages and Trident gums. Mondelez
International has annual revenue of approximately $36 billion and operations in more than 80
countries. Visit www.mondelezinternational.com and
www.facebook.com/mondelezinternational.
Forward-Looking Statements
This press release contains a number of forward-looking
statements. Words, and variations of words such as "will" and
"confident" and similar expressions are intended to identify our
forward-looking statements. Our forward-looking statements include,
but are not limited to, statements about: driving top-tier growth,
the size and importance of Developing Markets to the company's
future growth, enhancing collaboration, expediting decision-making,
driving efficiencies, accelerating sales synergies in the Gum &
Candy category. These forward-looking statements are subject to a
number of risks and uncertainties, many of which are beyond our
control, which could cause our actual results to differ materially
from those indicated in our forward-looking statements. Such
factors include, but are not limited to, continued volatility of
and increase in input costs, pricing actions, increased
competition, continued economic weakness and tax law changes.
Please also see our risk factors, as they may be amended from time
to time, set forth in our filings with the SEC, including our most
recently filed Annual Report on Form 10-K and subsequent reports on
Forms 10-Q and 8-K. Mondelez International disclaims and does
not undertake any obligation to update or revise any
forward-looking statement in this press release, except as required
by applicable law or regulation.
SOURCE Mondelez International, Inc.