UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the
The Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): January 29, 2007

 

KRAFT FOODS INC.

(Exact name of registrant as specified in its charter)

Virginia

 

001-16483

 

52-2284372

(State or other jurisdiction

 

(Commission

 

(I.R.S. Employer

of incorporation)

 

File Number)

 

Identification No.)

 

Three Lakes Drive, Northfield, Illinois

 

60093-2753

(Address of Principal executive offices)

 

(Zip Code)

 

Registrant’s Telephone number, including area code: (847) 646-2000

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 




Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers.

On January 29, 2007, the Board of Directors of Kraft Foods Inc. (“Kraft”) elected Ajay Banga, to serve on its Board of Directors, effective immediately. Mr. Banga was elected to serve on the Compensation Committee and on the Nominating and Governance Committee of the Board.

There is no arrangement or understanding pursuant to which Mr. Banga was selected as a director, and Mr. Banga does not have any relationship or related transaction with Kraft that would require disclosure pursuant to Item 404(a) of Securities and Exchange Commission Regulation S-K.

A copy of the press release announcing Mr. Banga’s election is attached as Exhibit 99.1 to this Current Report on Form 8-K.

2




SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

 

 

 

KRAFT FOODS INC.
 

 

 

/s/ CAROL J. WARD

 

 

Name:  

Carol J. Ward

 

 

Title:  

Vice President and Corporate Secretary

 

 

Date: January 29, 2007

3




EXHIBIT INDEX

Exhibit

 

 

Number

 

Description

99.1

 

Press Release dated January 29, 2007— Ajay Banga

 

4



Exhibit 99.1

 

FOR IMMEDIATE RELEASE

JANUARY 29, 2007

Contacts:

Charlie Simpson (Media)

Christopher Jakubik (Investors)

 

847-646-4538

847-646-5494

 

charles.simpson@kraft.com

chris.jakubik@kraft.com

 

 

Ajay Banga Elected to Kraft Foods Board of Directors

NORTHFIELD, Ill. — Jan. 29, 2007 — Kraft Foods Inc. (NYSE: KFT), a global leader in food and beverages, today announced the election of Ajay Banga to its Board of Directors.  With the addition of Mr. Banga, the company’s Board increases from nine Directors to 10, six of whom are not employees of either Kraft or Altria Group, Inc.

Mr. Banga, 47, is Chairman and Chief Executive Officer of Citigroup’s Global Consumer Group International businesses, a position he has held since August 2005. He previously served as an Executive Vice President of Citigroup’s Global Consumer Group and President of Citigroup’s Retail Banking North America.  Since joining Citigroup in 1996, Mr. Banga also has worked as business head for CitiFinancial and the U.S. Consumer Assets Division, and as division executive for the consumer bank in Central/Eastern Europe, Middle East, Africa and India.

Mr. Banga began his business career as a management trainee with Nestlé in 1981. He spent the next 13 years in a variety of assignments spanning sales, marketing and general management. He later joined PepsiCo in its Restaurants Division and was instrumental in the launch of Pizza Hut and KFC in India.

“I am very pleased to welcome Ajay Banga to our Board of Directors,” said Kraft Chairman Louis C. Camilleri. “His expertise in global business and the consumer packaged goods industry will be of significant value to Kraft as we work to accelerate our growth.”

—more—

1




Add One — Ajay Banga Elected to Kraft Board

Mr. Banga is an alumnus of the Indian Institute of Management in Ahmedabad, India. He is a member of the Financial Services Roundtable and the board of trustees of the National Urban League, and vice-chairman of the board of trustees of the New York Hall of Science.

About Kraft Foods

Kraft Foods (NYSE:KFT) is one of the world’s largest food and beverage companies. For more than 100 years, we’ve offered consumers delicious and wholesome foods that fit the way they live. Millions of times a day, in more than 150 countries, consumers reach for their favorite Kraft brands. Whether it’s breakfast, lunch, dinner or a snack, consumers at home and on the go choose: Kraft cheeses, dinners and dressings; Oscar Mayer meats, DiGiorno pizzas, Oreo cookies, Ritz crackers and chips, Philadelphia cream cheese, Milka and Cote d’Or chocolates, Planters nuts, Honey Bunches of Oats cereals, Jacobs, Gevalia and Maxwell House coffees; Capri Sun, Crystal Light and Tang refreshment beverages; and a growing range of South Beach Diet and better-for-you Sensible Solution options.

# # #

 

2