Kraft Heinz sees ongoing evaluation of strategic transactions, board reduction

The Kraft Heinz (KHC) Company announced that the Company’s Board of Directors and Executive Leadership Team have been evaluating potential strategic transactions to unlock shareholder value. Kraft Heinz also announced that Berkshire Hathaway (BRK.B) Inc. has informed the Company that, consistent with its other non-controlled investments, it will no longer hold Board seats on Kraft Heinz. As such, Timothy Kenesey and Alicia Knapp have stepped down from the Board due to their relationship with Berkshire Hathaway. With these changes, Kraft Heinz has reduced the size of its Board to 10 members. “At Kraft Heinz, our goal has always been to make high-quality, great-tasting food for all and to keep consumers at the forefront of all we do, enabling us to drive profitable long-term growth and value creation,” said Kraft Heinz CEO Carlos Abrams-Rivera. “Consistent with this goal, over the past several months we have been evaluating potential strategic transactions to unlock shareholder value. As we look to the future, we will continue to inspire and delight consumers with our iconic brands, fulfilling our mission.”