USA – American multinational confectionery and snack giant Mondelez International has tapped its current executive vice president of Latin America, Mr. Gustavo Valle, to lead its North America business unit.
Gustavo Valle will begin his new role on March 1, succeeding Glen Walter, who has been in the role since October 2017.
Walter is reported to be leaving the company to become chief executive officer of the Chicago based multinational fruit-based beverages company Tropicana Brands Group.
In his new role, Mr. Valle will be responsible for t Mondelez International’s US$8.3 billion business in the United States and Canada.
“With more than three decades of experience in consumer-packaged goods and a strong track record of success growing brands and categories in the US and beyond, Gustavo is an ideal leader to set our North America business on the path for future success,” said Dirk Van de Put, chairman and CEO.
“I’ve worked very closely with Gustavo for many years and have seen his passion for consumers and operational excellence first-hand.”
Earlier, Mondelez International Inc said it expects to face a larger impact from supply chain snags in its key North American segment in the current quarter, as the chocolatier grapples with labor shortages and inflationary pressures.
Shares of the Chicago-based Oreo cookie maker were down about 2% after the bell, as the company’s gross margin declined to 37% in the fourth quarter from 39.4% a year earlier.
Walter’s new role at Tropicana
Mr. Walter takes the helm of the recently formed Tropicana Brands Group, which is a joint venture between PAI Partners and PepsiCo, Inc.
The JV was formed when PAI completed the acquisition of a majority stake in PepsiCo’s juice business in January for US$3.3 billion.
The business includes such beverage brands as Tropicana, Naked, Kevita, Izze, and others.
PepsiCo retains a 39% stake in the business and maintains exclusive U.S. distribution rights to the portfolio of brands.
Stan Jacot takes helm at Arcadia Biosciences
Meanwhile, American agricultural biotechnology Arcadia Biosciences, Inc. Has appointed former Jane’s Dough Foods Mr. Stan Jacot as its new CEO.
Stan Jacot has been described as an astute leader with an impressive career in developing organizations and strategies to drive aggressive growth for existing and emerging better-for-you consumer brands.
His six-year tenure at Jane’s Dough Foods, saw the company achieve a double-digit compound annual growth rate, according to a statement from Arcadia.
“There’s a clear opportunity to grow Arcadia’s brands while improving the lives of consumers through our portfolio of better-for-you products,” Mr. Jacot said.
“The food we eat plays a significant role in our collective health, and I look forward to positively impacting the well-being of countless consumers through this revolutionary new line of pastas from the next generation of wheat — our GoodWheat.”
Jacot succeeds Matt Plavan who held the position from 2019 until his departure this past December.
He will officially take over from Kevin Comcowich, chairman of the board, who was appointed to the position on an interim basis.
Liked this article? Subscribe to Food Business Africa News, our regular email newsletters with the latest news insights from Africa and the World’s food and agro industry. SUBSCRIBE HERE