Kraft Heinz has announced it is “evaluating potential strategic transactions to unlock shareholder value”.
Carlos Abrams-Rivera, CEO of Kraft Heinz, said that over the past several months, the company has been evaluating potential strategic transactions, but also emphasised that there is no assurance that the company’s assessment process will result in any transaction.
“At Kraft Heinz, our goal has always been to make high-quality, great-tasting food for all and to keep consumers at the forefront of all we do, enabling us to drive profitable long-term growth and value creation.”
The company also announced that Berkshire Hathaway will no longer hold Board seats at Kraft Heinz, with Timothy Kenesey and Alicia Knapp stepping down, reducing the size of the Board to ten members.
Miguel Patricio, Chair of the Board of Kraft Heinz, thanks Kenesey and Knapp for the commitment and contributions to Kraft Heinz over the years.
“We greatly value our strong history with Berkshire Hathaway and look forward to continuing our relationship.”
The company has not set a timeline for the completion of the strategic review and does not plan to make any further announcements until it deems necessary.
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