Press release
Kraft Heinz Outlines the Next Phase of Its Transformation at the 2022 CAGNY Conference
Increases Long Term Growth Algorithm PITTSBURGH & CHICAGO--(BUSINESS WIRE)-- The Kraft Heinz Company (Nasdaq: KHC) (“Kraft Heinz” or the “Company”) will
About this update from The Kraft Heinz Company
[{"type":"text","content":"\nIncreases Long Term Growth Algorithm\n\n PITTSBURGH & CHICAGO--(BUSINESS WIRE)--\nThe Kraft Heinz Company (Nasdaq: KHC) (“Kraft Heinz” or the “Company”) will today discuss progress the Company is making against its strategic transformation plan at the 2022 Consumer Analyst Group of New York (CAGNY) Conference. Miguel Patricio, Chief Executive Officer; Carlos Abrams-Rivera, EVP & President, North America; and Andre Maciel, incoming EVP & Global Chief Financial Officer, will detail how the Company aims to accelerate profitable growth coupled with an attractive dividend to deliver meaningful value over the long term.\n\nThe Company will describe how it has reset its foundation and fully deployed its Operating Model in the past two years, a mainly internally focused process to get established best practices in place and bring it to industry standards.\n\n\"Our transformation to date has been successful in unleashing the full power of Kraft Heinz by transitioning from our size working against us, to our scale working for us,” said Patricio. “In our next phase, you will see us augment our agile expertise and capabilities through partnerships with technology giants and cutting-edge innovators to redefine best-in-class. We are also utilizing our improved financial flexibility to acquire capabilities that can be much more powerful when combined with the scale of our portfolio. We call this AGILE@SCALE.\"\n\nThe Company will also highlight that, as a result of successful portfolio management, almost two-thirds of its business now resides in consumer platforms that have relatively attractive growth profiles that it expects will carry higher-than-average profit margins into the future.\n\n“AGILE@SCALE creates a continuous improvement cycle for how we run and transform our business, leveraging our scale to maximize the impact of our current and future initiatives,” said Abrams-Rivera.\n\nPatricio added, “As we transition to accelerate profitable growth, our improved portfolio and Operating Model will continue to drive us forward through the power of AGILE@SCALE. This combination is already generating early wins. As a result, we have increased our long-term algorithm.”\n\nDeploying AGILE@SCALE\n\nOver the past 18 months, the Company has identified and prioritized critical initiatives, utilizing agile disciplines and digital solutions, acros...