Holden to Exit Kraft

Sneed, Baxter will succeed departing exec

NORTHFIELD, Ill. -- Kraft Foods Inc. said Friday that Betsy Holden, president of global marketing and category development, has decided to leave the company and resign her position on the company's board, effective June 30.

Holden has decided to take a nine to 12-month sabbatical to spend time with her teenage children, and then plans to resume her career elsewhere.

After Holden's departure, Paula Sneed, formerly senior vice president of marketing resources, will become executive vice president of global marketing resources and [image-nocss] initiatives. Sneed and her team will continue to provide worldwide leadership and oversight of marketing resources functions including media, advertising, digital marketing, kitchens and consumer relations. She has been with the company for 28 years and has held numerous assignments in brand and business management, including leadership of the company's foodservice and desserts divisions in the United States.

John Baxter, formerly senior vice president of global snacks, will become executive vice president of global category development. In his new role, Baxter and his team will have responsibility for Kraft's global consumer sectors, along with Kraft's initiative to transform its portfolio in line with consumers' increasing focus on health and wellness. Baxter has been with Kraft for 16 years and during this time, has had a variety of management experiences within Kraft's international and North American businesses, including leadership of the research and development facility in Munich, Germany, and responsibility for the Kraft Foods international research and development function.

Baxter and Sneed will report to Roger Deromedi, CEO of Kraft Foods, and they will become members of the company's executive team.

"Betsy's marketing talents and leadership abilities have benefited Kraft throughout her 23-year career, said Deromedi. We thank Betsy for her many contributions, including her recent leadership in establishing the global marketing and category development group within our global organization and in guiding our health and wellness initiatives. We wish her all the best in her future endeavors."