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Rosenfeld remains focused on 'building world’s best snacking company' as departure rumors swirl

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Douglas Yu

By Douglas Yu+

Last updated on 14-Apr-2017 at 16:46 GMT2017-04-14T16:46:42Z

Mondelēz said the Wall Street Journal's report on the CEO change gives its readers the wrong impression.  Photo: ©iStock/DanielBendjy
Mondelēz said the Wall Street Journal's report on the CEO change gives its readers the wrong impression. Photo: ©iStock/DanielBendjy

Mondelēz has confirmed its current CEO, Irene Rosenfeld, will remain in her position at the moment after The Wall Street Journal (WSJ) broke the news that the company is looking for a successor. 

The WSJ previously reported that the Oreo, Belvita and Cadbury owner faces “pressure from restive shareholders and the broad shift to healthier eating habits,” and it has partnered with the Chicago-based headhunter Heidrick & Struggles to assist with the company’s CEO succession planning.

Heidrick & Struggles did not immediately accept ConfectioneryNews’ interview on the matter.

Tight lipped on succession plan

“We put a great deal of time and energy into succession planning as an organization. In fact, we have processes and plans in place for all executives, including for the role of CEO. That’s simply good governance,” Mondelēz said in a statement.

“Irene Rosenfeld’s focus, time and attention remain on building the best snacking company in the world by delivering on our business objectives and creating value for shareholders,” the company added.

Struggling year

Mondelēz has posted a full-year 2016 net revenue decline of 12.5%, this site recently reported, and analysts from global trading firm SIG are now uncertain about the company being Kraft-Heinz’s next acquisition target after the Brexit vote and Trump presidency.

ConfectioneryNews is also waiting for a comment from the Bakery, Confectionery, Tobacco Workers and Grain Millers’ International Union (BCTGM ) on Mondelēz’s potential CEO change. The union organization last year filed a lawsuit against company for moving the Oreo’s production from Chicago to Mexico. 

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