Kraft Heinz Archives - CFO

Kraft Heinz Fined $62M for Accounting Fraud

Risk & Compliance

Kraft Heinz Fined $62M for Accounting Fraud

The SEC says the company's procurement division improperly recorded nearly 300 transactions to deliver unrealistic cost savings and inflate profits.

By Matthew Heller | September 3, 2021

Kraft Heinz Brings Back its Former CFO

Kraft Heinz Brings Back its Former CFO

Paulo Basilio will return to his role as the company's finance chief while current CFO David Knopf will return to 3G Capital.

By Lauren Muskett | August 26, 2019

S&P Cuts Kraft Heinz Rating to Near Junk Grade

Financial Performance

S&P Cuts Kraft Heinz Rating to Near Junk Grade

The rating agency believes Kraft Heinz "will be unable to meaningfully grow adjusted EBITDA" amid "significant" competition from other manufacturers.

By Matthew Heller | June 21, 2019

Kraft Heinz to Restate Results for Nearly 3 Years

Financial Reporting

Kraft Heinz to Restate Results for Nearly 3 Years

The company says employee misconduct resulted in the cost of products sold being understated by $181 million.

By Matthew Heller | May 6, 2019

Kraft Heinz Names Marketing Expert as CEO

Kraft Heinz Names Marketing Expert as CEO

The packaged-foods giant appears to be pivoting toward growth rather than cost cutting in replacing Bernardo Hees with Miguel Patricio.

By Matthew Heller | April 22, 2019

Kraft Heinz Discloses SEC Probe, Shares Tank

Financial Performance

Kraft Heinz Discloses SEC Probe, Shares Tank

The company's Q4 report contained other bad news, including a $15.4 billion goodwill impairment charge and an earnings miss.

By Matthew Heller | February 22, 2019

With Stocks Up, Finance Chiefs Are On the Move

With Stocks Up, Finance Chiefs Are On the Move

A recruiting firm's latest annual report on the career movements of C-suite executives is a treasure trove of interesting tidbits.

By David McCann | August 23, 2018

Kraft Heinz Protects Profit With Price Hikes

Financial Performance

Kraft Heinz Protects Profit With Price Hikes

The company offset rising input costs in Q2 by raising prices of its packaged foods and condiments by 1.3 percentage points.

By Matthew Heller | August 6, 2018

Kraft Heinz Sales Fall for 8th Quarter in a Row

Financial Performance

Kraft Heinz Sales Fall for 8th Quarter in a Row

The company's profits were boosted by higher pricing but analysts are skeptical it can increase sales as consumers shy away from processed foods.

By Matthew Heller | May 3, 2018

Kraft Heinz U.S. Sales Drop Hits Q4 Earnings

Financial Performance

Kraft Heinz U.S. Sales Drop Hits Q4 Earnings

“There's no question that our financial performance in 2017 did not reflect our progress or potential,” CEO Bernardo Hees says.

By Matthew Heller | February 19, 2018

CFOs on the Move: Week Ending Sept. 15

CFOs on the Move: Week Ending Sept. 15

Kraft Heinz, Learning Care Group, Host Hotels, Lineage Logistics, HomeStreet, Green Plains, Cadence Design, Paylocity, Patterson-UTI Energy, Arrow Financial

By Joan Urdang | September 15, 2017

29-Year-Old Prodigy Named Kraft Heinz CFO

29-Year-Old Prodigy Named Kraft Heinz CFO

David Knopf's promotion is "another sign that financial professionals are accumulating more and more responsibility at a younger age."

By Matthew Heller | September 8, 2017

Unilever Revamps in Wake of Rejecting Kraft

Unilever Revamps in Wake of Rejecting Kraft

The company is buying back shares and taking other steps to placate investors after its rebuff of Kraft's $143 billion takeover bid.

By Matthew Heller | April 6, 2017

Kraft Heinz Offers $143B to Acquire Unilever

Kraft Heinz Offers $143B to Acquire Unilever

The deal would be the third-biggest takeover in history but Unilever said Kraft's offer “profoundly undervalues the company."

By Matthew Heller | February 17, 2017