The outcome of the Kraft-Heinz deal was Knopf’s appointment as vice president of finance and head of the Planters nuts category at the business, as well as being Head of Global Budget & Business Planning, Zero-based budgeting, and Financial & Strategic planning. The information shown here is a reporting of information included in the company’s proxy statement.

David Knopf, who assumed the role of chief financial officer of Kraft Heinz in 2017, is leaving the post a little less than two years after taking the position. Replacing him, effective September 1, will be his predecessor, Paulo Basilio, who currently is president of Kraft Heinz’s U.S. commercial business and last month became chief business planning and development officer. The executive change comes after a year filled with accounting errors and lackluster sales. Heinz Holding Corporation in 2013 and retained that title after the company, which was bought by Warren Buffett’s Berkshire Hathaway and private equity firm 3G Capital, merged with Kraft Food. KHC, -0.40%said Monday that David Knopf, the company’s chief financial officer, will leave the company to return to private-equity firm 3G Capital.

Kraft Heinz To Sell B2B Powdered Cheese Business To Kerry Group

Get the best business coverage in Chicago, from breaking news to razor-sharp analysis, in print and online. Livekindly’s founders include Roger Lienhard, who sits on the board of directors and is also the founder of Blue Horizon, and Jodi Monelle, the CEO and founder of Canada-based Livekindly Media, which is part of the overall business. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. In 2017, Knopf was nominated on the Forbes 30 Under 30 Finance list for his role in the 3G-led $11 billion Burger King-Tim Hortons acquisition and Heinz’s $45 billion merger with Kraft. If you look around LinkedIn, there are other younger gents with very high-level positions at Kraft. Just an observation – they are usually Brazilian names, so I assume they have some tie to 3G. I thought I read somewhere that they want younger people in those roles for experience/exposure.

• His recent promotion reflects an industry trend whereby financial professionals are gaining more responsibility at a younger age.
• Heinz in 2013 and continued in the role after the 2015 merger with Kraft Foods.
• There is a lot of speculation over this appointment – the average age of a CFO is 52 – and it could be seen as risky to appoint someone with less than ten years’ experience as the person in charge of the company coffers.
• Meanwhile, net sales for the first six months of 2019 fell 4.8% from the prior year.
• Knopf had worked for the investment bank Goldman Sachs after his studies at the prestigious Princeton University in New Jersey from 2010 to 2013.
• He joined Kraft Heinz in 2015, initially serving as vice president of finance, head of global budget and business planning, zero-based budgeting and financial and strategic planning.

Covers all compensation-like awards that don’t fit in any of these other standard categories. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings.

Kraft Heinz, Paulo Basilio torna cfo

You can also sign up for email updates on the SEC open data program, including best practices that make it more efficient to download data, and SEC.gov enhancements that may impact scripted downloading processes. Please declare your traffic by updating your user agent to include company specific information. There is a lot of speculation over this appointment – the average age of a CFO is 52 – and it could be seen as risky to appoint someone with less than ten years’ experience as the person in charge of the company coffers.

Siegwerk is an internationally recognised provider of sustainable coatings and inks for the packaging industry. The company has embraced the circular economy and is setting many standards in sustainability in packaging products while working with major brands. A company that large has access to some of the best finance talent in the world. Shares of Kraft Heinz were https://simple-accounting.org/ mostly flat on the news, up just 0.26 percent on the day. Packaged foods as a whole have struggled this year as more consumers shift toward fresher options and smaller, local brands. Knopf replaces Paulo Basilio, 42, who will become president of Kraft Heinz’s U.S. business. The food giant sells a variety of products ranging from ketchup to macaroni and cheese.

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He was previously CFO at US food major Kraft Heinz and has also worked at private equity business Onex Partners and investment bank Goldman Sachs. Basilio remains a partner at Brazilian-American private equity firm 3G Capital, which in 2015 joined with Warren Buffett’s Berkshire Hathaway to drive the merger of Kraft and Heinz to create the global food and beverage giant. Food Digital is a ‘Digital Community’ for the global food industry that connects the world’s largest Food Digital brands & projects and their most senior executives with the latest trends as the food industry pivots towards technology and digital transformation. Heinz in 2013 and continued in the role after the 2015 merger with Kraft Foods. Basilio has served as president of the U.S. commercial business since 2017 and last month was named chief business planning and development officer. Kraft Heinz Co. replaced its chief financial officer with his predecessor after accounting errors and weak sales at the food giant have undermined the value of its brands and shares. Knopf joins the LIVEKINDLY Collective from 3G Capital, a global investment firm, where he was a partner since 2015.

However, according to some commentators, the appointment becomes less surprising against the culture of private equity firm, 3G Capital. The CEO of Restaurant Brands International, formed from the Burger King and Tim Horton’s deal Knopf worked on – is led by Daniel Schwartz, who was just 32 when he stepped into the role five years ago, with a then 28-year-old, Joshua Kobza, in the role of CFO. Thorough reviews have been conducted to assure this data accurately reflects disclosures. However for a complete and definitive understanding of the pay practices of any company, users should refer directly david knopf kraft heinz to the actual, complete proxy statement. In February, Kraft Heinz wrote down the value of its brands by $15.4 billion and disclosed that the SEC was conducting an investigation into accounting misstatements related to pricing agreements with suppliers. Delayed by an internal investigation, Kraft Heinz released its 2018 annual report in June, when it revealed it understated the costs of products sold by $208 million over three years. Amid a turbulent year, Kraft Heinz announced Monday that it will replace its young chief financial officer with the “seasoned veteran” who held the role before him.

Tonya Garcia is a MarketWatch reporter covering retail and consumer-oriented companies. Tonya joined MarketWatch from Moguldom Media, where she was business editor for MadameNoire, a website targeting African-American women with a range of content from personal finance to economics, politics, education and lifestyle and entertainment. She also worked at Mediabistro, and previously handled media relations for MSLGroup’s consumer practice. Basilio, currently the chief business planning and development officer for Kraft Heinz, will take over from 1 September.

All proxy statements are public filings made available to the general public by the SEC. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. The Kraft Heinz Company announcedit has tapped Andre Maciel, currently U.S. CFO and head of digital transformation, to succeed Paulo Basilio as the food maker’s new global chief financial officer, effective March 2. Played prominent role in 3G-led $11 billion Burger King acquisition of Tim Hortons and Heinz’s $45 billion merger with Kraft. In addition to his partner role at billionaire Jorge Lemann’s private equity firm, now working at Kraft-Heinz as vice president in charge of the Planters nuts brand.

The company disclosed in an 8-K filing that the compensation committee approved an annual base salary of $650,000 for Maciel as part of his compensation package. Maciel has been with the company since 2013 and has held such roles as VP of Global Financial Planning and Analysis for the H.J. Heinz Company, and was also managing director of Continental Europe where he was responsible for the Kraft Heinz business in Austria, France, Germany, Italy, Portugal, Spain and Switzerland. Maciel holds a bachelor’s degree in Industrial Engineering from Universidade de São Paulo as well as an MBA from INSEAD. His recent promotion reflects an industry trend whereby financial professionals are gaining more responsibility at a younger age. The announcement Monday about the CFO shuffle said Patricio “made the strategic decision to shift a seasoned veteran” back into the role. Knopf, a former Goldman Sachs analyst, did not immediately respond to Reuters’ request for comment.

• Kraft Heinz Co. replaced its chief financial officer with his predecessor after accounting errors and weak sales at the food giant have undermined the value of its brands and shares.
• Earlier this month the company said it plans to eliminate 400 hourly jobs this year as part of a global restructuring, after cutting 1,400 jobs last year, mostly outside the U.S.
• Knopf was also named in Forbes’ 30-under-30 list in 2017 for his role in the $11-billion Burger King-Tim Hortons merger and the merger of Heinz and Kraft.
• When the Kraft Heinz deal closed in 2015, Knopf joined as vice president of finance, then took over as category head for the company’s $1 billion Planters nuts business.
• In October 2017, Basilio was named president of U.S. commercial business, and since July 2019, he has been chief business planning and development officer.
• Under the announced CFO transition plan, Basilio will step down on March 1 and remain with the company as a strategic advisor through August 2022, supporting Maciel during the transition.
• Delayed by an internal investigation, Kraft Heinz released its 2018 annual report in June, when it revealed it understated the costs of products sold by $208 million over three years.