What kind of products does Kraft Foods make?
Kraft’s portfolio contains a host of well established brands— Oreo, Nabisco, Kool-Aid, Maxwell House, Oscar Mayer, Velveeta, and numerous others. The industry to which Kraft belongs is defined as large producers of food and beverage products.
Who is the current CEO of Kraft Foods?
In 2003, Roger Deromedi was named as Kraft’s sole CEO. Deromedi had originally been appointed co-CEO from his earlier position as CEO of Kraft Foods International. In that same year, Phillip Morris, now Altria, announced its plans to spin off Kraft Foods into its own company.
What are the issues with the Kraft Corporation?
The first issue is Kraft’s decreasing use of hedging techniques to control for rising input costs. Although Kraft does make use of financial derivatives such as futures to hedge against rising commodity costs, they are not doing this enough, and their margins have contracted as a result.
What are the restructuring programs of Kraft Foods?
In order to counter these trends, Kraft has instituted two restructuring programs aimed at divesting non-core products, realigning their product portfolio, increasing efficiencies, and cutting costs. The restructuring programs will result in the closure of nearly 20 factories and a reduction in workforce by nearly 6,000.
What do you need to know about Kraft Foods?
All About Kraft Learn everything there is to know about Kraft: like who we are, how you can reach us and what we’re doing in your community. Kraft Foods Inc. is a company with many different roots and founders, all sharing a commitment to quality, a willingness to take risks and a spirit of innovation.
What was the significance of the Kraft hands commercial?
The company’s “hands” commercials, showing a pair of hands preparing recipes using Kraft products, became a symbol of the company’s advertising success. Aggressive sales merchandising techniques contributed further to the company’s growing market share in an increasingly diverse line of products.
Who are the founders of Kraft Foods Company?
Kraft traces its history to three of the most successful food entrepreneurs of the late 19th and early 20th centuries — J.L. Kraft, who started his cheese business in 1903; C.W. Post, who founded Postum Cereal Company (later renamed General Foods Corporation) in 1895; and Oscar Mayer, who began his meat business in 1883. The Story of J.L. Kraft
When did Kraft start making cheese in tins?
in 3-1/2 and 7-3/4 ounce tins. J.L. Kraft’s method of producing processed cheese was so revolutionary, in 1916 he obtained a patent for it and in 1917 the company started supplying cheese in tins to the U.S. Government for the armed forces in World War I. J.L. Kraft followed up on his success with processed cheese in tins by introducing or