CHICAGO — Kraft Heinz has named Paulo Basilio as its new chief financial officer.
The Chicago-based food and beverage company called 44-year-old Basilio a “seasoned veteran.” He previously held the role from July 2015 to October 2017 and has replaced David Knopf, CNBC reported. Knopf is returning to private-equity firm 3G Capital, where he has been a partner since 2015.
Kraft Heinz CEO Miguel Patricio announced the changes to his senior leadership team “as Kraft Heinz charts a new path forward,” he said in a statement provided to CSP Daily News. “These moves are designed to rebuild the company’s business momentum with a focus on driving long-term profitable growth.”
The company has dealt with a series of struggles in the past year, sending shares down 57%, CNBC reported. The company in May said it would restate financial statements for 2016 and 2017 after a review prompted by the U.S. Securities and Exchange Commission’s subpoena revealed employee misconduct, according to the report. No senior executives were implicated as part of the internal review.
Kraft Heinz also promoted Nina Barton from president of the Canada zone and digital growth to the newly created role of chief growth officer. Barton will lead the company’s global e-commerce and digital business while adding oversight for R&D, channel growth and an enterprise-wide view for innovation, the company said.
Bruno Keller, head of category development in Canada, was promoted to Canada zone president, the company said. Keller previously was managing director for southern Europe.
Kraft Heinz brands include ABC, Capri Sun, Classico, Jell-O, Kool-Aid, Lunchables, Maxwell House, Ore-Ida, Oscar Mayer, Philadelphia, Planters, Plasmon, Quero, Smart Ones and Velveeta.