Kraft Foods Group, Inc. announced its board of directors appointed John Cahill, board chairman, as CEO of the company.
Cahill will succeed Tony Vernon who informed the board of his plans to retire as CEO on Dec. 27, though he will remain as a senior advisor through March 31, 2015 and as a director until the company’s next annual meeting in 2015. Vernon served as CEO since the company’s spin-off from Mondelez International in 2012.