Kraft Foods Appoints John Cahill As CEO - Quick Facts

(RTTNews) - Kraft Foods Group, Inc. (KRFT) announced the appointment of John Cahill as Chairman and Chief Executive Officer or CEO of Kraft Foods.

The company said that Cahill will succeed Tony Vernon, who has informed the board of his intention to retire as CEO on Dec. 27, 2014, the last day of the company's fiscal year. Vernon will stay on as a senior advisor through March 31, 2015 and as a director until the company's next annual meeting in 2015.

Giving a brief note on Vernon, the company said he has served as CEO since the company's spin-off from Mondelez International in October 2012 and prior to that, he was the company's Executive Vice President and President, Kraft Foods North America.

Commenting on Cahill, Kraft Foods said he was previously Chairman and Chief Executive Officer of Pepsi Bottling Group and under his leadership, he and his team turned Pepsi Bottling into the leading bottler in the PepsiCo network, gaining market share in key regions, driving double-digit growth in international territories and improving sales execution and financial performance.