Sanjay Khosla to Retire After Leading Developing Markets to New Heights
DEERFIELD, Ill.,
"Having built our Developing Markets business into the growth engine of the company and a critical part of our global portfolio, Sanjay and I have been discussing since last year the best time for him to retire to pursue his passions for teaching, writing and board work," said
"I'm pleased to be leaving the company having largely accomplished the challenge Irene put before me when I first arrived: to dramatically increase our Developing Markets business," Khosla said. "Moreover, I'm especially proud of the tremendous talent we've developed throughout the organization. Indeed, the people who will continue to lead the regions have earned their promotions. And I'm confident they will drive top-tier growth going forward."
Following his retirement, Khosla will continue to work with the company through the end of 2013 in a consulting capacity to sponsor and further advance
Since joining the company in 2007, Khosla and his Developing Markets team have doubled the business through organic growth and more than tripled it after acquisitions, while also significantly improving profitability. With more than
Five Operating Units
Given the size and importance of Developing Markets to the future growth of
"I'm confident that this new streamlined region structure will fuel our growth by enhancing collaboration, expediting decision making and driving efficiencies," Rosenfeld said.
The following operating unit leaders will report directly to Rosenfeld in the new structure:
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Tim Cofer will continue to lead the company's European business, which will now include Central European countries. This expanded region represents about 41 percent of the company's net revenues. Prior to assuming his current role in 2011, Cofer led the company's global Chocolate category and its integration efforts following the acquisition of Cadbury. His 20-year career also included a successful tenure leading the company's former U.S. pizza business. -
Pradeep Pant, who led the turnaround of the company's business in
Asia Pacific , will continue to lead that region. He will also oversee the newly formed EEMEA region.Lawrence MacDougall , who currently leads the company's business in theMiddle East andAfrica , will lead the expanded EEMEA region reporting to Pant. These two regions represent about 24 percent of the company's revenues. Prior to joining the company in 2008, Pant held senior leadership roles at Fonterra Brands and Gillette, including more than 30 years of successful experience growing markets acrossAsia ,Africa , theMiddle East andEastern Europe . -
Mark Clouse will continue to lead the company's North American business, which represents about 19 percent of revenues. Prior to assuming his current role in 2011, Clouse led the global Biscuits category following successful stints leading the company's operations inBrazil and China. During his 16 years with the company, he has held a series of senior leadership roles in the company's former North American businesses. -
Gustavo Abelenda will continue to lead the company's Latin American business, which represents about 16 percent of revenues. Abelenda joined the company in 1984 inArgentina and has extensive experience throughout the region in senior finance, strategy, sales, marketing and general management roles. He assumed his current role in 2003.
Chief Customer Officer and Gum & Candy Category
The company also announced that
Bond and Cali will report to
About
Forward-Looking Statements
This press release contains a number of forward-looking statements. Words, and variations of words such as "will" and "confident" and similar expressions are intended to identify our forward-looking statements. Our forward-looking statements include, but are not limited to, statements about: driving top-tier growth, the size and importance of Developing Markets to the company's future growth, enhancing collaboration, expediting decision-making, driving efficiencies, accelerating sales synergies in the Gum & Candy category. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause our actual results to differ materially from those indicated in our forward-looking statements. Such factors include, but are not limited to, continued volatility of and increase in input costs, pricing actions, increased competition, continued economic weakness and tax law changes. Please also see our risk factors, as they may be amended from time to time, set forth in our filings with the
SOURCE
Michael Mitchell (Media), +1-847-943-5678, news@mdlz.com, Dexter Congbalay (Investors), +1-847-943-5454, ir@mdlz.com