KHC - This Warren Buffett Stock Is Losing to the Market. Can Its New CEO Satisfy Investors' Appetites for Better Returns?
2023-08-16 06:15:00 ET
Kraft Heinz (NASDAQ: KHC) estimates that at least one of its products sits on the shelves of nearly every U.S. household -- a dominant market position if there ever was one for a consumer food company. And yet, Kraft has provided investors with lackluster returns. Over the last five years, its shares are down more than 40%, whereas the S&P 500 has climbed by nearly 60%.
On Aug. 14, Kraft Heinz announced that Chairman and CEO Miguel Patricio will transition to the position of non-executive chair of the board at the start of next year. In his place, Carlos Abrams-Rivera is being promoted from his present responsibilities as executive vice president of the company and president of its operations in North America.
Is this the move that Kraft Heinz needs to make to generate better returns for investors? Let's take a closer look.
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This Warren Buffett Stock Is Losing to the Market. Can Its New CEO Satisfy Investors' Appetites for Better Returns?