"Kraft Heinz announced on Tuesday that new CEO Steve Cahillane will join the food giant to help steer its split into two companies. The former head of Kellanova joins the ailing food giant after years of declining sales and slow growth, and as shares are down 75% since 2017. In 2026, the company will split into two independent, publicly traded companies, Global Taste Elevation Co. and North American Grocery Co., with the first focused on condiments and the Heinz ketchup brand,"
"Cahillane brings a wealth of industry experience to Kraft Heinz, having most recently served as chief executive of Kellanova, where he oversaw the recent acquisition by Mars and the expansion of household brands including Pringles, Cheez-It, Pop-Tarts, and Kellogg's. More notably, he led Kellogg Company through the successful separation of its North American cereal business and the launch of Kellanova, a global snacking powerhouse. That experience that should come in handy in the coming months."
Kraft Heinz will split in 2026 into two publicly traded companies: Global Taste Elevation Co., focused on condiments and brands such as Heinz ketchup, Philadelphia and Kraft Mac & Cheese, and North American Grocery Co., housing Oscar Mayer, Kraft Singles, and Lunchables. Steve Cahillane will join on January 1, 2026 as chief executive officer of Global Taste Elevation Co. Cahillane previously led Kellanova through a separation and brand expansions and oversaw an acquisition by Mars. Kraft Heinz reported a third-quarter adjusted EPS of $0.61 that beat estimates, while net sales declined 2.3% year-over-year and shares have fallen 75% since 2017.
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