DEERFIELD, Ill. -- Mondelez International has selected Dirk Van de Put to lead the company after CEO Irene Rosenfeld announced she will step down in November 2017. Van de Put is president and CEO of McCain Foods, Florenceville, Canada.
Rosenfeld will step down in November from the position she's held since 2006, when the company was still part of Kraft. In 2012, Kraft Foods Inc. became Mondelez International Inc., Deerfield, Ill., after spinning off its North American grocery business.
Van de Put will also join the company's board of directors. Rosenfeld will continue as chairman of the board until March 31, 2018, at which point she will retire, and Van de Put will assume the role of chairman and CEO.
"It has been the honor of a lifetime to serve as chairman and CEO of this great company," Rosenfeld said at the company's most recent earnings call. "I truly enjoyed working alongside my colleagues around the world to achieve our bold ambitions and create value for our shareholders."
During her tenure as chairman and CEO, Rosenfeld helped place the company as one of the leading manufacturers of snacks products in the world, with 85% of its net revenue coming from snacks. During that time, more than 70% of the company's revenue came from what she calls "power brands," including c-store staples such as Oreo, Belvita biscuits, Cadbury Dairy Milk and Milka chocolate and Trident gum. She helped the company create value for its shareholders, to the tune of $120 billion through share price appreciation and dividends, and total shareholder returns.
"I am very proud of what our 90,000 colleagues at Mondelez International have accomplished," Rosenfeld said. "Throughout my tenure as CEO, the world and our industry have undergone a period of unprecedented change. During that time, we anticipated emerging challenges, adapted accordingly and created significant value for our shareholders. The outlook is bright for this great company—one of the few that has consistently delivered on both the top and bottom lines while making critical investments for future growth."
As the incoming CEO, Van de Put brings nearly 30 years of experience in the food and consumer-packaged-goods industry to this new leadership role. He comes to the company from McCain Foods. During his six-year tenure as CEO there, he grew net sales by more than 50%, generating more than 75% of that growth organically, with EBITDA (earnings before interest, taxes, depreciation and amortization) growing double digits each of the past six years.
Prior to joining McCain, Van de Put held executive positions with Novartis, Groupe Danone, The Coca-Cola Co. and Mars Inc. He graduated with a doctorate in veterinary medicine from the University of Gent in Belgium and a post-graduate in marketing and management from the University of Antwerp. Van de Put is fluent in five languages, including English, Dutch, French, Spanish and Portuguese.
"The board and I are confident that Dirk Van de Put is the right leader to take us forward. He is a seasoned global CEO, having lived and worked on three different continents, with deep experience and expertise in all critical business and commercial operations in both emerging and developed markets," Rosenfeld said. "Throughout his career, Dirk has had a proven track record of driving top-line and category growth, while at the same time improving cost structures and profitability. And he has achieved these results with a values-based leadership style and steadfast focus on people."
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.