Business Services Industry
Setting timer on Kraft's CEO; Investors restless despite Deromedi's cost-cutting.(News)(Roger Deromedi )
Crain's Chicago Business, February, 2006 by Jargon, Julie
Byline: JULIE JARGON Kraft Foods Inc. CEO Roger Deromedi has proven he's not afraid to lay people off and shut factories down. But investors say that if he can't deliver growth, the next pink slip may be his. Wall Street was surprised by the magnitude of Mr. Deromedi's latest plan-to close up to 20 plants and lay off 8,000 staffers by 2008.
Those cuts come on top of a plan to shutter up to 20 facilities and lay off 6,000 that was unveiled in 2004, a month after he became sole CEO of the Northfield foodmaker. Now, investors expect more than cost-cutting. Mr. Deromedi must rekindle sales growth if he wants to keep his job. "You'd expect to see some progress by the second half of the year,'' says Peter Kwiatkow-ski, senior portfolio manager at Fifth Third...
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
- Design a commission plan that drives sales - Sales Commissions
Presented by American Express