Cadbury Strategy Chief to Step Down
Cadbury Strategy Chief to Step Down
Cadbury Strategy Chief to Step Down
Cadbury PLC Chief Strategy Officer Mark Reckitt will leave the company, Kraft Foods Inc. said Friday, as the two companies integrate following their merger earlier this month.
Mr. Reckitt, who has been with U.K.-based Cadbury since 1989 and was running the merger integration team with Kraft's Tim Cofer, will step down from his full-time post at the end of July. He will remain as a part-time consultant, according to Kraft, working one day a week for the Green & Black's chocolate brand.
Michael Osanloo, currently Kraft's executive vice president of strategy, has taken over the global integration effort.
According to Kraft spokeswoman Perry Yeatman, Mr. Reckitt is leaving because his position as strategy chief became redundant and because he didn't want to relocate his family to Chicago at this time.
"Had he been able to relocate to Chicago, he certainly would have been considered as a candidate for head of strategy for the combined entity," Ms. Yeatman said.
The Financial Times, which first reported Mr. Reckitt would be stepping down, also said four other Cadbury executives may be leaving. Kraft, which is based in Northfield, Ill., couldn't immediately confirm those departures.
Mr. Reckitt, who became Cadbury's strategy chief in 2007, helped oversee the acquisitions of the Adams and Green & Black's business lines
Boutique executive search services with best in class global network, contacts and market mastery.
Deeply connected and engaged personal service approach, long-term investment in client community and 25 year history of strong relations with both Multi-National leaders and Private Equity partners.