Kraft appoints new president for North America

By Associated Press
June 22, 2009 | Comments (0)

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Kraft Foods Inc. said Monday that Rick Searer, the 55-year old head of its North American business and a 30-year company veteran, will retire in September and be replaced by a private-equity executive.

Kraft said W. Anthony Vernon, 53, will become president of Kraft Foods North America in mid-August. Vernon works at private-equity firm Ripplewood Holdings, following a career at Johnson & Johnson.

Shares of Kraft fell 16 cents to close at $25.25 Monday.

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11/9/2009 4:00 PM
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