As previously announced, Kraft Foods is dividing to create two public companies before the end of 2012: a global snacks business and a North American grocery business.
The North American grocery company will become Kraft Foods Group, retaining the Kraft brand for its corporate identity and as the brand for many of its consumer products. As a result, the global snacks company will require a new name when it launches later this year.
Chairman and CEO Irene Rosenfeld, said: “The Kraft brand is a perfect fit for the North American grocery business and gives it a wonderful platform on which to build an exciting future. For the new global snacks company, we wanted to find a new name that could serve as an umbrella for our iconic brands, reinforce the truly global nature of this business and build on our higher purpose – to ‘make today delicious.’
“Mondelez perfectly captures the idea of a ‘delicious world’ and will serve as a solid foundation for the strong relationships we want to create with our consumers, customers, employees and shareholders.”
Source: Kraft Foods
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