Heinz Appoints Chris Warmoth as Executive Vice President of Heinz's Asia Pacific Business

Business Wire,  June 12, 2008  

Tags: H.J. Heinz Co.

• E-mail
• Print
• Link

Mike Milone to Lead Expansion of Heinz's Global Infant/Nutrition Category

PITTSBURGH -- H. J. Heinz Company (NYSE:HNZ) announced today that it has appointed Chris Warmoth, 49, as Executive Vice President of Heinz's Asia Pacific business effective July 1, 2008. In this expanded role, Chris will have responsibility for Heinz's growing businesses in China, Indonesia, Japan, India, Australia and New Zealand.

"Chris has delivered exceptional results for Heinz, driving double-digit top and bottom line growth in our emerging Asian markets," noted William R. Johnson, Heinz's Chairman, President and CEO. "Chris has a wealth of marketing, sales and operating experience that will significantly enhance our consumer-driven innovation and marketing initiatives across the Asia Pacific region."

Prior to leading Heinz's Asia business, Mr. Warmoth was Deputy President of Heinz Europe from December 2003 to April 2006. Mr. Warmoth joined Heinz from Coca-Cola in 2003, where he was Director of Business Development and Marketing for Central Europe, Eurasia, and the Middle East. Prior to joining Coca-Cola, Chris spent over twenty years with Procter & Gamble.

Mr. Warmoth has a degree in Modern History from Oxford University England.

Heinz also announced that Mike Milone, 51, Senior Vice President of Heinz's Rest of World business and head of the Company's Global Enterprise Risk Management, will also assume the additional responsibility of leading the expansion of the Heinz's global Infant/Nutrition category. This will include the identification and application of technology to transform scientific advances into new growth opportunities. Mike will continue to have responsibility for Latin America and three additional markets which are expected to achieve $100 million status for Heinz: Mexico, South Africa, and the Middle East.

"Mike has been an outstanding leader for Heinz over the past 28 years," said Mr. Johnson. "He has a proven track record across many Heinz businesses, most recently delivering double-digit sales and earnings growth in his region. I expect him to bring the same effective approach to our global infant/nutrition businesses which have been the fastest growing category for Heinz over the past two years, increasing at a compound annual growth rate of 13.3 percent. We have two powerful infant/nutrition brands that enjoy leadership positions in seven markets around the world."

Mike joined Heinz in 1980 as an Assistant Product Manager for Heinz USA. He has held various roles including Senior Product Manager - Heinz Ketchup and Vice President of Heinz Pet Products Marketing. Mike became a Senior Vice President in 2000.

Mike holds a B.A. degree from Colgate University and an M.B.A. degree from the University of Pennsylvania, Wharton Graduate Division.

SAFE HARBOR PROVISIONS FOR FORWARD-LOOKING STATEMENTS:

This press release and our other public pronouncements contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified by the words "will," "expects," "anticipates," "believes," "estimates" or similar expressions and include our expectations as to future revenue growth, earnings, capital expenditures and other spending, dividend policy, and planned credit rating, as well as anticipated reductions in spending. These forward-looking statements reflect management's view of future events and financial performance. These statements are subject to risks, uncertainties, assumptions and other important factors, many of which may be beyond Heinz's control, and could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Factors that could cause actual results to differ from such statements include, but are not limited to:

* sales, earnings, and volume growth,

* general economic, political, and industry conditions, including those that could impact consumer spending,

* competitive conditions, which affect, among other things, customer preferences and the pricing of products, production, and energy costs,

* increases in the cost and restrictions on the availability of raw materials, including agricultural commodities and packaging materials, the ability to increase product prices in response, and the impact on profitability,

* the ability to identify and anticipate and respond through innovation to consumer trends,

* the need for product recalls,

* the ability to maintain favorable supplier relationships,

* currency valuations and interest rate fluctuations,

* changes in credit ratings, leverage, and economic conditions and the impact of these factors on the cost of borrowing and access to capital markets,

* our ability to effectuate our strategy, which includes our continued evaluation of potential acquisition opportunities, including strategic acquisitions, joint ventures, divestitures and other initiatives, including our ability to identify, finance and complete these initiatives, and our ability to realize anticipated benefits from them,