Finard to Leave Kraft Foods

Search under way for new CMO

NORTHFIELD, Ill. -- Kraft Foods Inc. has announced that Jeri Finard, executive vice president and chief marketing officer, has decided to leave the company for personal reasons.

"Jeri has had a terrific career at Kraft, defined by her passion for building brands, her creative marketing ideas and her deep understanding of consumers," said Irene Rosenfeld, Kraft chairman and CEO. "We thank Jeri for her many contributions, particularly in leading a number of our North American businesses, and most recently, for helping to set Kraft on a new path toward [image-nocss] greater innovation. We will miss Jeri and wish her much success in the future."

Finard has agreed to stay on with the company for a transition period through mid-May.

Kraft is conducting an internal and external search for its next CMO. This position is responsible for breakthrough innovation, consumer services and providing world-class marketing services to Kraft's businesses.

"Together with the strong team Jeri has put in place, our CMO will be instrumental in driving the consumer focus that will help us to accelerate long-term growth," said Rosenfeld.

Northfield, Ill.-based Kraft Foods is one of the world's largest food and beverage companies with annual revenues of more than $34 billion. Brands include Kraft cheeses, dinners and dressings; Oscar Mayer meats; Philadelphia cream cheese; Post cereals; Nabisco cookies and crackers; Jacobs coffees and Milka chocolates. Kraft became a fully independent company on March 30, 2007.