Kraft Foods Inc (KFT.N) has hired Heidrick & Struggles International Inc (HSII.O) to find candidates to lead the North American grocery business it plans to spinoff, Bloomberg reported. Kraft's board is also looking at internal candidates to lead the $16 billion grocery company, Bloomberg reported, citing two people with direct knowledge of the matter. In August, Kraft's Chief Executive Irene Rosenfeld announced the break up of the food company in a move that caught the market by surprise, coming only 18 months after the acquisition of Cadbury. The split gives investors the chance to bet on a snacks business growing fast in emerging markets, or to opt for the stable dividends offered by a slower-growing general grocery business that includes Oscar Mayer lunch meat and Kraft cheese. Neither Kraft nor Heidrick & Struggles could be reached for comment.
Kraft Foods Inc. (Kraft Foods) manufactures and markets packaged food products, including biscuits, confectionery, beverages, cheese, convenient meals and various packaged grocery products. Shares of KFT traded higher by 0.09% or $0.03/share to $32.89. In the past year, the shares have traded as low as $29.80 and as high as $36.30. On average, 12548400 shares of KFT exchange hands on a given day and today's volume is recorded at 13360037.
Heidrick & Struggles International, Inc. (Heidrick & Struggles) is a provider of executive search and leadership consulting services. Shares of HSII fell by 2.72% or $-0.49/share to $17.54. In the past year, the shares have traded as low as $15.57 and as high as $30.06. On average, 166535 shares of HSII exchange hands on a given day and today's volume is recorded at 168154.
