Kraft Heinz appoints former Kellanova CEO Steve Cahillane as new chief executive ahead of planned split in 2026. Cahillane will lead the company’s high-growth brands like Heinz and Kraft Mac & Cheese under the new entity called Global Taste Elevation. Outgoing CEO Carlos Abrams-Rivera to serve as advisor until March 6.

Cahillane previously led Kellogg through its own breakup in 2023 before Mars acquired the company for $35.9 billion. Kraft Heinz board to search for CEO to lead North American Grocery division, including brands like Oscar Mayer. John Cahill to succeed Miguel Patricio as chair of the board.

Kraft Heinz projects split to occur in the second half of 2026 after announcing plans in September. The breakup follows years of sluggish sales despite efforts to turn around the company. Stock rises 1% in morning trading, down 20% for the year.

Read more at CNBC: Kraft Heinz taps Steve Cahillane as CEO ahead of breakup