Packaged food giant Kraft Heinz (KHC) has named industry veteran Steve Cahillane as its new chief executive officer (CEO).
The new CEO has been named ahead of Kraft Heinz’s split into two separately traded public companies.
In September of this year, Kraft Heinz announced that it will split into two entities, one focused on sauces and spreads and the other focused on groceries.
Cahillane, who previously served as CEO of food company Kellanova (K), is also joining the board of directors at Kraft Heinz. He will serve as CEO of the sauces and spreads company once the split is completed.
Kraft Heinz is continuing with a global search to find a CEO to lead its grocery unit after the company splits in two.
Cahillane, 61, will begin in the CEO role starting on Jan. 1, 2026. He succeeds Carlos Abrams-Rivera who will serve as an advisor at the company until March 6 of next year.
KHC stock has declined 20% this year to trade at $24.50 U.S. per share.
