Thu. Nov 14th, 2019

Kraft Heinz CFO to return to 3G Capital

1 min read

Kraft Heinz Co.

KHC, -1.13%

said Monday that David Knopf, the company’s chief financial officer, will leave the company to return to private-equity firm 3G Capital. Knopf has been a partner at 3G since 2015; he’s been with Kraft Heinz for four years. Kraft Heinz will move Paulo Basilio back into the CFO role, effective September 1. In October 2017, Basilio was named president of U.S. commercial business, and since July 2019, he has been chief business planning and development officer. Basilio joined Kraft Heinz as CFO in June 2013. The company says it has not determined whether to change Basilio’s compensation with the shifting role. Kraft Heinz is in the midst of a restructuring and has had to restate financial statements going back to 2016. Kraft Heinz stock has sunk more than 57% over the past year while the S&P 500 index

SPX, -2.59%

has lost 1% for the period.

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