Northfield, Ill.-based Kraft Foods Group (NASDAQ: KRFT ) will get a new CFO next year.
On Tuesday, Kraft announced that it has hired away Procter & Gamble exec Teri List-Stoll for the position of senior vice president of finance and intends to promote her to chief financial officer when current CFO Timothy McLevish retires in the first quarter of 2014.
List-Stoll spent nearly 20 years working in financial leadership positions at Procter & Gamble, most recently as the company's treasurer. In a statement, Kraft CEO Tony Vernon said List-Stoll's "financial expertise and deep experience at a consumer- and brand-focused company make her the right choice for our next CFO."
Upon joining Kraft as senior VP, List-Stoll will take responsibility for overseeing Kraft's business unit finance teams. Simultaneously, she will spend the next few months working with McLevish to ensure an orderly transition between CFOs.