The struggling company's current CEO, Bernardo Hees, will remain in his post through June 30, 2019. Miguel Patricio will step into the role on July 1.
In February Kraft Heinz wrote down the value of Kraft and Oscar Mayer by $15 billion, posted a $12.6 billion loss, cut its dividend by 36% and announced that its accounting practices are under investigation by the Securities and Exchange Commission.
This is a developing story. More to come...
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