Mondelez CEO Irene Rosenfeld leaves post

  • Push-out Score suggests push-out forces
  • After around eleven years on the job
  • Accolades, praise and thanks for Rosenfeld
  • Dirk Van de Put taking over
  • Rosenfeld spoke at length and said 171 words

(exechange) — Deerfield, Illinois, August 02, 2017 — Irene Rosenfeld, chief executive of Mondelez, leaves. As announced by Mondelez International, Inc. in a news release and in a regulatory filing published on Wednesday, August 02, 2017, Irene B. Rosenfeld leaves the post as Chief Executive Officer at the confectionery, food, and beverage company after around eleven years on the job, effective in November 2017.

It is the end of an era.

Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, only 35 percent of the CEOs who departed over the past twelve months left after more than ten years. Overall, the average tenure of those who left was 8.6 years, according to data compiled by exechange.

Rosenfeld leaves the company effective March 31, 2018.

Rosenfeld’s duties are taken over by Dirk Van de Put, currently Chief Executive Officer at McCain Foods.

The fact that Rosenfeld’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.

“Thorough, multi-year succession process”

The management change is explained as follows. Mark Ketchum, Lead Independent Director of Mondelez International, said: “Our thorough, multi-year succession process has identified Dirk as the right leader with a distinct combination of skills and industry experience necessary to succeed as our next CEO.”

Precise information about the future plans of Rosenfeld was not immediately available.

“Steps down”

Mondelez said: Irene Rosenfeld “steps down effective November 2017″.

On the job as CEO since 2006

Rosenfeld was appointed Chief Executive Officer and a director of Mondelez International in June 2006 and became Chairman of the Board in March 2007.

Prior to that, she served as Chairman and Chief Executive Officer of Frito-Lay, a division of PepsiCo, from 2004 to 2006.

Rosenfeld was employed by Mondelez International and its predecessor companies in various capacities from 1981 until 2003, including President of Kraft Foods North America and President of Operations, Technology, Information Systems and Kraft Foods, Canada, Mexico and Puerto Rico.

Push-out Score suggests push-out forces

It is not completely certain what forces eventually triggered Irene Rosenfeld’s move.

The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the management change.

Read the full story in the exechange report 32.2017 ($).