Sales of roast and ground coffee were not as strong as expected according to financial results released by Kraft Foods Group, Inc. in February. Commodity prices spiking late in 2014 also effected fourth quarter operating income.
“While there were some positive developments in the fourth quarter, we did not deliver to our potential in 2014, with the macro environment and our execution affecting our results,” said Kraft chairman and c.e.o. John T. Cahill.
Meanwhile, the company also announced the return of James Kehoe to take on the role of e.v.p. and c.f.o.“Kraft is the company where I’ve built my career, and I’m excited to rejoin at such a critical time and partner again with many of the talented colleagues I know so well,” commented Kehoe. “I look forward to working with John, our finance team and the rest of management to drive Kraft’s strategy and performance as we focus on sustainable, profitable growth.”
Learn more: newscenter.kraftfoodsgroup.com