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08/14/2023

Big Changes at the Top for Kraft Heinz

Legacy food company announces CEO transition
Lynn Petrak
Senior Editor
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Rivera and Patricio
Carlos Abrams-Rivera (left) will succeed outgoing CEO Miguel Patricio (right) at Kraft Heinz Co.

The Kraft Heinz Co. shared a major leadership change, with the appointment of Carlos Abrams-Rivera as CEO and board member. On Jan. 1, 2024, Abrams-Rivera will succeed Miguel Patricio, who will move to the role of non-executive chair of the board.

Abrams-Rivera, most recently serving as EVP and president of the company’s North America zone, will immediately take on more duties as Kraft Heinz's president. He joined the major CPG in 2020 and is credited with delivering strong results in the North American retail and away-from-home businesses.

[Read more: “Kraft Heinz Shores Up Leadership Team”]

“Carlos is the best person to lead the next phase of the company’s transformation,” declared Patricio, who has led the organization as CEO since 2019. “Carlos’ experience in both developed and emerging markets complements our ambition for growth. I feel privileged to entrust Carlos with the leadership of this great company, and I am confident that Kraft Heinz is poised for more growth in the years to come.”

In turn, Jack Pope, lead director of the board, lauded Patricio for his service. “We are extremely grateful for Miguel’s leadership over the past four years. He has a deep understanding of marketing and consumers, which was instrumental to the Company’s turnaround,” Pope remarked. “The transition from Miguel to Carlos reflects the Board’s thoughtful succession planning and we are confident that the company will continue to accelerate growth with Carlos assuming the role of CEO. He is an experienced leader with a long tenure in the food and beverage industry who has shown consistency and excellence in execution. Carlos’ leadership in transforming North America with innovative partnerships, tech-enabled solutions and developing and attracting world class talent will serve the Company well into the future. We look forward to continuing to work with him.”

Abrams-Rivera said he is grateful and ready to take up the CEO mantle. “I would like to thank Miguel for his mentorship, all he has done to rekindle the spirit of Kraft Heinz and our culture, and for his partnership, now and in the future. I would also like to thank the board of directors for placing its trust in me. Finally, to the thousands of colleagues across Kraft Heinz that have welcomed and trusted me, I am excited to go into a bright future together,” he said.

Earlier this month, Kraft Heinz reported its second quarter earnings. Net sales were up 2.6% on a year-over-year basis, while net income rose 277% and adjusted EBITDA climbed 6%. Looking ahead, the Pittsburgh, Pa.-based company reported that it expects a 4-6% lift in organic net sales for its fiscal 2023.

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