Growth Strategy Unveiled for Mondelez International
As previously announced, Kraft Foods Inc. plans to spin-off its North American grocery business, to be named Kraft Foods Group, Inc., at 5 p.m. EDT on Oct. 1, 2012. Following the spin-off, Kraft Foods Inc. will be renamed Mondelez International, Inc.
7 Sep 2012 --- During a presentation at the Barclays Capital Back to School Consumer Conference, Kraft Foods Chairman and CEO Irene Rosenfeld detailed the strategic growth priorities for Mondelez International, Inc., the new global snacks company that will debut next month.
As previously announced, Kraft Foods Inc. plans to spin-off its North American grocery business, to be named Kraft Foods Group, Inc., at 5 p.m. EDT on Oct. 1, 2012. Following the spin-off, Kraft Foods Inc. will be renamed Mondelez International, Inc.
"As our results show, we've significantly changed the trajectory of our business to deliver sustainable, profitable growth," Rosenfeld said. "With the spin-off of our North American grocery business, we're now ready to unleash a global snacking powerhouse that's poised to deliver top-tier revenue and earnings growth."
Rosenfeld outlined the profile of Mondelez International and how it is uniquely positioned to win in the marketplace, with competitive advantages such as leading positions in fast-growing categories, an advantaged geographic footprint with significant exposure to Developing Markets, a portfolio of the world's favorite snacks brands, proven global innovation platforms, strong routes to market and world-class talent and capabilities.
The leaders of the company's Global Category Teams in Biscuits, Gum & Candy and Chocolate detailed several examples of how they are leveraging these competitive advantages in an integrated, cross-functional way to drive bigger, faster and more profitable growth.
Brearton added, "For 2013, we expect to deliver results that are consistent with our long-term profile, specifically, organic net revenue growth of 5 to 7 percent and Operating EPS of $1.50 to $1.55, including a significant foreign exchange headwind of about 15 cents versus 2011 currency rates."
Brearton also updated estimates for transaction-related and restructuring costs. Spin-off and debt-migration costs are expected to be in line with earlier guidance. However, restructuring costs at Mondelez International are expected to be higher than earlier guidance, reflecting additional restructuring programs in the United States and Europe.
