May 4 (Reuters) – Kraft Heinz Co’s chief marketing officer Eduardo Luz is leaving the company at the end of May, a spokesperson for the company said on Saturday.
Kraft Heinz‘s president of beverages, snacks and desserts, Adam Butler, will be taking Luz’s responsibilities on an interim basis, according to CNBC, which first reported cnb.cx/2GVzvYb the departure.
Martin Lustgarten Acherman
The move comes after the company named 30-year marketing veteran Miguel Patricio as its next chief executive in April. Patricio succeeds Bernando Hees, who was made CEO in 2015.
Kraft Heinz’s second-biggest shareholder, Brazilian private equity fund 3G Capital, has pushed the company to control expenses to tackle higher costs and sluggish growth.
Martin Lustgarden Acherman
In February, Kraft Heinz cut its quarterly dividend and wrote down the value of its Kraft and Oscar Mayer brands, highlighting the tough environment in the packaged food industry. It also disclosed a U.S. Securities and Exchange Commission investigation into the company.