Under the leadership of CEO Steve Cahillane, Kraft Heinz is accelerating its strategic overhaul. The food conglomerate has halted its previous plans for a corporate split and is instead focusing its efforts on revitalizing its core North American operations, backed by a significant new investment.
A Pivotal Leadership Appointment
A key move in this restructuring is the appointment of Nicolas Amaya to lead the crucial North American business, effective February 23, 2026. Amaya, recruited by Cahillane from his former employer Kellanova (formerly Kellogg), will assume responsibility for strategy and operations, succeeding Pedro Navio who is departing after eight years. This executive change underscores Cahillane’s strategy of bringing in trusted, familiar leadership; Amaya previously managed North American operations with success at Kellanova. The goal is to reinject what the company calls “commercial discipline” and operational excellence.
From Split to Strategic Revamp
This leadership shift is central to a broader strategic pivot. Rather than pursuing a corporate separation, management is now targeting fundamental improvements in its main business. To win back customers lost to rivals such as General Mills and Nestlé, Kraft Heinz is committing $600 million. These funds are earmarked for targeted marketing initiatives and product innovation.
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The urgency for action is underscored by recent financial performance. In the fourth quarter of 2025, organic net sales declined by 4.2% to $6.35 billion. Looking ahead, the company’s guidance for the full 2026 fiscal year anticipates a further sales decrease of between 1.5% and 3.5%. Market sentiment reflects these challenges, with the company’s shares down nearly 29% year-to-date, currently trading around €20.
Profitability Provides a Silver Lining
Despite the top-line pressure, there were positive notes on profitability. Adjusted earnings per share for the last quarter came in at $0.67, surpassing analyst estimates of $0.61. Furthermore, the company has maintained its quarterly dividend of $0.40 per share, providing investors with a measure of income stability amidst a difficult operating climate.
With Amaya now installed to helm the North American division, the focus turns squarely to executing the renewed strategy. Following presentations at the recent CAGNY conference, Cahillane and his retooled leadership team face the task of proving, over the coming quarters, whether the $600 million investment package is sufficient to engineer a sustained turnaround in sales performance.
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