Kraft Heinz executives say that the company is weighing potential unnamed "strategic transactions" in an effort to "unlock shareholder value."
Carlos Abrams-Rivera, CEO of the food and beverage giant, said in a statement last week that the company has considered moves over "the past several months." The company said the initiative would continue with no further announcements or timetable in place, and that it could not make assurances that a transaction would ultimately occur.
“At Kraft Heinz, our goal has always been to make high-quality, great-tasting food for all and to keep consumers at the forefront of all we do, enabling us to drive profitable long-term growth and value creation,” Abrams-Rivera said in the statement.
The company also announced the departures of Timothy Kenesey and Alicia Knapp from its board of directors after Berkshire Hathaway informed Kraft Heinz that it would no longer hold board seats "consistent with its other non-controlled investments." Kraft Heinz said that it had subsequently reduced the size of its board to 10 members.
“On behalf of the board, I’d like to thank Tim and Alicia for their commitment and contributions to Kraft Heinz over the years," Chairmand Miguel Patricio said. "We greatly value our strong history with Berkshire Hathaway and look forward to continuing our relationship.”
