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Oh No, Oreo! WSJ Reporting Mondelez Could Oust CEO Rosenfeld

Oh No, Oreo! WSJ Reporting Mondelez Could Oust CEO Rosenfeld
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Shares of Mondelez International Inc (NASDAQ: MDLZ) gained more than 1 percent early Monday morning after the Wall Street Journal reported Sunday that the snack-maker is looking to oust its CEO Irene Rosenfeld.

Mondelez's move to find a successor to Rosenfeld stems from increased pressure from major shareholders to reverse declining sales and better position itself to thrive in a market where consumers are demanding healthier options.

Rosenfeld has communicated a plan to introduce new, healthier snacks. However, throughout 2016, the company's revenue dipped more than 12 percent. Meanwhile, Mondelez's stock is trading nearly flat since the start of 2017 and up just 4 percent over the past year.

The Wall Street Journal report further suggested that Mondelez's chief growth officer Tim Cofer and its chief financial officer Brian Gladden are two potential successors.

Activist Investors Heavily Invested

There is also the possibility that Mondelez could end up being acquired by a larger food company. This is an action activist shareholder and member of the board, Nelson Peltz, has been pushing for years.

Bill Ackman, another activist investor, is also a major shareholder of Mondelez with a stake of more than 5 percent and even added to his position in early 2017.

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Posted-In: Bill Ackman Brian Gladden Food CompaniesNews Rumors Management Movers Media Best of Benzinga


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