By Kristin Jones
Mondelez International Inc. (MDLZ) is shuffling the management
teams in its developing-markets and its gum businesses.
The maker of Trident gum, Oreo cookies and Cadbury chocolates
said it is streamlining the operating structure of its
developing-markets business. Effective Jan. 1, the company will
have five operating units: Europe; North America; Latin America;
Asia Pacific and Eastern Europe, the Middle East and Africa.
The company said Sanjay Khosla, 61 years old, will retire as
president of developing markets in the spring of 2013, to "pursue
his passions for teaching, writing and board work," said Chief
Executive Irene Rosenfeld. "With the spin-off completed and our new
company successfully launched, we've agreed that now is the right
time."
Mondelez also said that Trevor Bond, chief customer officer for
global sales, will take on additional leadership roles in the gum
and candy business. Mr. Bond will become president, chief customer
officer and global gum and candy category leader.
He will replace Jim Cali, who has led the company's gum business
since 2006. Mr. Cali will take on a leadership role in snacking
strategy and innovation.
Missteps in Russia and Brazil hurt the company's sales in the
third quarter, its first since spinning off its North American
grocery business to focus on growing its snack brand globally. In
Brazil, the company ran into trouble with its gum business, as slow
sales caused inventory to build up. In Russia, Mondelez didn't cut
prices on its coffee as fast as some of its competitors, which hurt
sales volumes there.
Shares were up fractionally at $25.70 in recent after-hours
trading Monday. Through the close, the stock was up 5% so far this
year.
Write to Kristin Jones at kristin.jones@dowjones.com
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