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    Kraft Heinz Co (KHC)

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    Kraft Heinz Company (KHC) is a global manufacturer and marketer of food and beverage products, offering a diverse range of items to meet various consumer needs . The company sells condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee, and other grocery products . Kraft Heinz manages its sales portfolio through six consumer-driven product platforms, each designed to cater to specific consumer preferences and adaptable by segment and market .

    1. Taste Elevation - Focuses on condiments and sauces, enhancing the flavor of meals and accounting for a significant portion of the company's sales.
    2. Cheese and Dairy - Offers a variety of cheese and dairy products, catering to consumers seeking quality and taste in their dairy choices.
    3. Ambient Foods - Provides shelf-stable food products that are convenient and easy to store, meeting the needs of busy consumers.
    4. Frozen and Chilled Foods - Delivers a range of frozen and chilled meal options, ensuring freshness and convenience for quick meal solutions.
    5. Fast Fresh Meals - Offers ready-to-eat meals that are both quick to prepare and fresh, appealing to consumers with busy lifestyles.
    6. Easy Meals Made Better - Enhances traditional meal options with improved recipes and ingredients, providing better meal experiences.
    7. Real Food Snacking - Provides snack options made with real ingredients, catering to health-conscious consumers seeking nutritious snacks.
    8. Flavorful Hydration - Offers a variety of refreshment beverages, focusing on taste and hydration for consumers.
    9. Easy Indulgent Desserts - Delivers dessert options that are easy to prepare and indulgent, satisfying consumers' sweet cravings.
    NamePositionStart DateShort Bio
    Carlos Abrams-RiveraChief Executive Officer and DirectorDecember 31, 2023Carlos Abrams-Rivera is the CEO and Director of Kraft Heinz. He served as President from August to December 2023 and as EVP and President, North America from December 2021 to August 2023 .
    Andre MacielExecutive Vice President and Global Chief Financial OfficerMarch 2022Andre Maciel has been the EVP and Global CFO since March 2022. He was previously the SVP, U.S. CFO, and Head of Digital Transformation from September 2019 to March 2022 .
    Diana FrostGlobal Chief Growth OfficerDecember 2023Diana Frost has been the Global Chief Growth Officer since December 2023. She was the Chief Growth Officer for North America from August to December 2023 .
    Rashida La LandeExecutive Vice President and Chief Legal and Corporate Affairs OfficerDecember 31, 2023Rashida La Lande served as EVP and Chief Legal and Corporate Affairs Officer from December 31, 2023, stepping down on August 5, 2024, but remained as an advisor .
    Marcos Eloi LimaExecutive Vice President and Global Chief Procurement and Sustainability OfficerDecember 2023Marcos Eloi Lima is the EVP and Global Chief Procurement and Sustainability Officer since December 2023. He was EVP and Global Chief Procurement Officer from December 2021 to December 2023 .
    Pedro NavioExecutive Vice President and President, North AmericaDecember 2023Pedro Navio has been EVP and President, North America since December 2023. He was President of Taste, Meals, and Away From Home from March 2022 to December 2023 .
    Cory OnellExecutive Vice President and Chief Omnichannel Sales and Asian Emerging Markets OfficerDecember 2023Cory Onell is the EVP and Chief Omnichannel Sales and Asian Emerging Markets Officer since December 2023. He was the Chief Sales Officer, U.S., from August 2020 to December 2023 .
    Flávio Barros TorresExecutive Vice President and Global Chief Supply Chain OfficerDecember 2021Flávio Barros Torres has been the EVP and Global Chief Supply Chain Officer since December 2021. He was the Head of Global Operations from January 2020 to December 2021 .
    Melissa WerneckExecutive Vice President and Global Chief People OfficerDecember 2021Melissa Werneck has been the EVP and Global Chief People Officer since December 2021. She was the Global Chief People Officer from 2016 to December 2021 .
    Debby SooBoard MemberOctober 24, 2024Debby Soo was appointed as a Board Member effective October 24, 2024. She is the CEO of OpenTable, Inc., and has significant expertise in technology transformation and global business management .
    Vince GarlatiVice President, Global Controller, and Principal Accounting OfficerNovember 15, 2024Vince Garlati resumed his role as Principal Accounting Officer on November 15, 2024, after a leave of absence. He has been the Global Controller since June 2018 .
    Chris AsherDeputy Global ControllerMarch 7, 2024Chris Asher serves as the Deputy Global Controller. He was acting as the Principal Accounting Officer during Vince Garlati's leave of absence .
    1. Given your plan to invest in trade promotions selectively to drive better volume results for a more value-seeking consumer, how do you anticipate this will impact your gross margins, especially considering that approximately 30% to 40% of your U.S. portfolio requires incremental investment to close price gaps?

    2. You mentioned that you do not need volume to turn positive to achieve your guidance, yet you expect revenue and volume to gradually improve throughout the quarters; can you elaborate on the specific drivers of this expected improvement and the risks associated with relying on price increases in a challenging consumer environment?

    3. Despite onetime issues negatively impacting gross margin in Q1 and Q2, you achieved gross margin expansion; can you quantify the impact of these onetime issues and discuss how sustainable your gross margin improvements are in light of potential future pricing and volume pressures?

    4. In international markets like the UK, China, and Brazil, you've faced challenges such as increased private label competition, soft industry conditions, and customer inventory adjustments; what specific strategies are you implementing to mitigate these issues, and how do you expect these markets to perform in the back half of the year?

    5. Given that you're not always the highest-priced product in your categories and consumers are increasingly value-seeking, how confident are you in your ability to compete on non-price factors through innovation and marketing efforts, and what measurable progress have you seen in redefining your portfolio to better compete beyond pricing?

    Program DetailsProgram 1
    Approval DateNovember 27, 2023
    End Date/DurationDecember 26, 2026
    Total additional amount$3.0 billion
    Remaining authorizationApproximately $2.4 billion as of September 28, 2024
    DetailsThe program aims to enhance long-term stockholder value. It allows repurchases through various means and can be modified, suspended, or discontinued at any time.
    YearAmount Due (in millions)Debt TypeInterest Rate (%)% of Total Debt
    2025€600 (approx. $650) Floating Rate Senior Notes Floating Rate 3.2% = (0.65B / 20.1B) * 100
    2026N/A3.000% Senior Notes 3.000 N/A
    2027N/A3.875% Senior Notes 3.875 N/A
    2027N/A4.125% British Pound Senior Notes 4.125 N/A
    2028N/A2.250% Euro Senior Notes 2.250 N/A
    2028N/A6.375% Senior Notes 6.375 N/A
    2029N/A4.625% Senior Notes 4.625 N/A
    2029N/A3.500% Senior Notes 3.500 N/A
    2030N/A3.750% Senior Notes 3.750 N/A
    2031N/A4.250% Senior Notes 4.250 N/A
    2032N/A6.750% Senior Notes 6.750 N/A
    2035N/A5.000% Senior Notes 5.000 N/A
    2039N/A6.875% Senior Notes 6.875 N/A
    2039N/A7.125% Senior Notes 7.125 N/A
    2039N/A4.625% Senior Notes 4.625 N/A
    2040N/A6.500% Senior Notes 6.500 N/A
    2042N/A5.000% Senior Notes 5.000 N/A
    2045N/A5.200% Senior Notes 5.200 N/A
    2046N/A4.375% Senior Notes 4.375 N/A
    2049N/A4.875% Senior Notes 4.875 N/A
    2050N/A5.500% Senior Notes 5.500 N/A
    NameStart DateEnd DateReason for Change
    PricewaterhouseCoopers LLP1979 PresentCurrent auditor