Lates News

Kraft Heinz stated that they are currently evaluating potential strategic transactions as the food giant seeks to enhance shareholder value. Kraft Heinz also mentioned that two directors representing Berkshire Hathaway will resign from the Kraft Heinz board, resulting in a reduction in the board's size. CEO Carlos Abrams-Rivera stated on Tuesday that Kraft Heinz has been evaluating possible actions for the past few months, but did not specify any potential transactions. Kraft Heinz's stock price rose by about 2% in after-hours trading, but has decreased by 22% over the past year. Kraft Heinz stated that Berkshire Hathaway will no longer have seats on the Kraft Heinz board. As a result, Timothy Kenesey and Alicia Knapp have resigned from their director positions, reducing the board's size to 10 members. According to FactSet data, Berkshire Hathaway holds a 27% stake in Kraft Heinz.