[PART I FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%20FINANCIAL%20INFORMATION) [Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) This section presents Mondelēz International's unaudited condensed consolidated financial statements for Q2 and H1 2024-2025, covering earnings, cash flows, and comprehensive notes [Condensed Consolidated Statements of Earnings](index=3&type=section&id=Condensed%20Consolidated%20Statements%20of%20Earnings) Q2 2025 net revenues increased to **$8.98 billion** with net earnings at **$641 million**, while H1 2025 net revenues grew to **$18.30 billion**, but net earnings decreased to **$1.04 billion** Key Earnings Data (in millions, except per share data) | Metric | Q2 2025 | Q2 2024 | YTD 2025 | YTD 2024 | | :--- | :--- | :--- | :--- | :--- | | **Net revenues** | $8,984 | $8,343 | $18,297 | $17,633 | | **Gross profit** | $2,937 | $2,797 | $5,367 | $7,547 | | **Operating income** | $1,172 | $854 | $1,852 | $3,581 | | **Net earnings attributable to Mondelēz International** | $641 | $601 | $1,043 | $2,013 | | **Diluted EPS attributable to Mondelēz International** | $0.49 | $0.45 | $0.80 | $1.49 | [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2025, total assets increased to **$71.02 billion**, total liabilities rose to **$44.77 billion** due to higher debt, and total equity slightly decreased to **$26.25 billion** Balance Sheet Summary (in millions) | Account | June 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | **Total Current Assets** | $12,750 | $13,242 | | **Total Assets** | $71,020 | $68,497 | | **Total Current Liabilities** | $19,883 | $19,549 | | **Long-Term Debt** | $18,116 | $15,664 | | **Total Liabilities** | $44,773 | $41,539 | | **Total Equity** | $26,247 | $26,958 | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) H1 2025 net cash from operating activities decreased to **$1.40 billion**, with **$591 million** used in investing and **$862 million** in financing, including **$1.65 billion** in share repurchases and **$1.23 billion** in dividends Cash Flow Summary for the Six Months Ended June 30 (in millions) | Activity | 2025 | 2024 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $1,400 | $2,146 | | **Net cash used in investing activities** | $(591) | $(847) | | **Net cash used in financing activities** | $(862) | $(1,604) | | **Capital expenditures** | $(582) | $(666) | | **Repurchases of Common Stock** | $(1,653) | $(1,074) | | **Dividends paid** | $(1,233) | $(1,151) | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail key accounting policies and events, including the **Evirth acquisition**, a **$282 million** pension settlement loss, **$1.6 billion** in share repurchases, and a Q2 2025 effective tax rate of **26.9%** - On November 1, 2024, the company acquired Evirth, a Chinese cake and pastry manufacturer, for **$255 million** in cash, resulting in **$125 million** of goodwill assigned to the AMEA segment[31](index=31&type=chunk)[33](index=33&type=chunk) - In Q2 2025, the company recognized a non-cash pre-tax settlement loss of **$282 million** from the buy-out conversion of the Mondelēz Global LLC Retirement Plan for U.S. salaried employees[74](index=74&type=chunk) - A new share repurchase program authorizing up to **$9.0 billion** was approved effective January 1, 2025. In the first six months of 2025, the company repurchased **27 million shares** for approximately **$1.6 billion**[87](index=87&type=chunk)[88](index=88&type=chunk) - The effective tax rate for Q2 2025 was **26.9%**, down from **34.7%** in Q2 2024, driven by the jurisdictional mix of earnings and lower mark-to-market losses on derivatives[96](index=96&type=chunk) Net Revenue by Product Category - Q2 2025 vs Q2 2024 (in millions) | Category | Q2 2025 | Q2 2024 | % Change | | :--- | :--- | :--- | :--- | | Biscuits & Baked Snacks | $4,575 | $4,357 | +5.0% | | Chocolate | $2,661 | $2,233 | +19.2% | | Gum & Candy | $950 | $957 | -0.7% | | Beverages | $227 | $266 | -14.7% | | Cheese & Grocery | $571 | $530 | +7.7% | | **Total Net Revenues** | **$8,984** | **$8,343** | **+7.7%** | [Management's Discussion and Analysis (MD&A)](index=30&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q2 2025 performance, noting a **7.7%** net revenue increase and **5.6%** organic growth, but Adjusted EPS decreased **12.0%** to **$0.73** due to higher input costs and unfavorable volume/mix [Overview and Recent Developments](index=30&type=section&id=Overview%20and%20Recent%20Developments) The company faces macroeconomic challenges including elevated cocoa prices, continued operations in Russia (**4.0%** of Q2 revenue), and a newly approved **$1.2 billion** multi-year ERP system upgrade program - The company expects to continue facing significantly higher operating costs, particularly for cocoa, as market prices have increased significantly and are likely to remain elevated[110](index=110&type=chunk) - In Q2 2025, Russia generated **4.0%** of consolidated net revenue, up from **2.9%** in Q2 2024. The company has suspended new capital investments and advertising in Russia but continues operations to maintain food supply continuity[114](index=114&type=chunk) - In July 2024, the Board approved a **$1.2 billion** multi-year program to upgrade global ERP and supply chain systems, with expected completion by year-end 2028[121](index=121&type=chunk) [Consolidated Results of Operations](index=37&type=section&id=Consolidated%20Results%20of%20Operations) Q2 2025 net revenues grew **7.7%** to **$9.0 billion** with **5.6%** organic growth, but Adjusted Operating Income margin contracted to **14.3%**, and Adjusted EPS fell **12.0%** to **$0.73** due to higher input costs Q2 2025 vs Q2 2024 Performance Summary | Metric | Q2 2025 | Q2 2024 | % Change | | :--- | :--- | :--- | :--- | | Net Revenues | $8,984M | $8,343M | +7.7% | | Organic Net Revenue (Non-GAAP) | $8,814M | $8,343M | +5.6% | | Operating Income | $1,172M | $854M | +37.2% | | Adjusted Operating Income (Non-GAAP) | $1,283M | $1,492M | -14.0% | | Diluted EPS | $0.49 | $0.45 | +8.9% | | Adjusted EPS (Non-GAAP) | $0.73 | $0.83 | -12.0% | - Q2 Organic Net Revenue growth of **5.6%** was driven by a **+7.1 percentage point** impact from pricing, partially offset by a **-1.5 percentage point** impact from unfavorable volume/mix[148](index=148&type=chunk) - Adjusted Operating Income (constant currency) decreased by **$239 million** in Q2, primarily driven by higher input costs (**-$860M**) and unfavorable volume/mix (**-$129M**), which were not fully offset by higher net pricing (**+$589M**) and lower SG&A (**+$141M**)[150](index=150&type=chunk) [Results of Operations by Reportable Segment](index=46&type=section&id=Results%20of%20Operations%20by%20Reportable%20Segment) In Q2 2025, Europe's revenue surged **18.7%** and AMEA grew **14.7%**, while North America's revenue fell **3.5%** and Latin America decreased **3.1%**, with most segments experiencing operating income declines Q2 2025 Net Revenue Change by Segment | Segment | Q2 2025 Net Revenue (M) | % Change vs Q2 2024 | Key Drivers | | :--- | :--- | :--- | :--- | | Latin America | $1,194 | -3.1% | Unfavorable currency (-8.5pp) and volume/mix (-2.2pp), offset by pricing (+7.6pp) | | AMEA | $1,821 | +14.7% | Higher pricing (+7.9pp), acquisition impact (+6.4pp), and favorable volume/mix (+0.7pp) | | Europe | $3,412 | +18.7% | Higher pricing (+13.8pp) and favorable currency (+6.2pp), offset by unfavorable volume/mix (-1.3pp) | | North America | $2,557 | -3.5% | Unfavorable volume/mix (-2.4pp) and lower pricing (-1.0pp) | Q2 2025 Segment Operating Income Change | Segment | Q2 2025 Op. Income (M) | % Change vs Q2 2024 | | :--- | :--- | :--- | | Latin America | $133 | -7.6% | | AMEA | $271 | -6.6% | | Europe | $514 | -6.5% | | North America | $454 | -16.7% | [Liquidity and Capital Resources](index=51&type=section&id=Liquidity%20and%20Capital%20Resources) H1 2025 net cash from operations decreased to **$1.4 billion**, total debt increased to **$20.9 billion**, and the company paid **$1.23 billion** in dividends while increasing the Q3 dividend by **6%** - Net cash from operating activities decreased to **$1.4 billion** in H1 2025 from **$2.1 billion** in H1 2024, primarily due to lower cash-basis net earnings and working capital movements[202](index=202&type=chunk)[203](index=203&type=chunk) - Total debt rose to **$20.9 billion** at June 30, 2025, from **$17.7 billion** at December 31, 2024[210](index=210&type=chunk) - A quarterly cash dividend was declared at **$0.50 per share**, a **6%** increase, payable in October 2025[206](index=206&type=chunk) [Commodity Trends](index=52&type=section&id=Commodity%20Trends) The company faces significant cost pressures, primarily from elevated cocoa prices, which are expected to remain high, potentially impacting profitability despite mitigation efforts through hedging and pricing actions - The primary driver of increased aggregate commodity costs in H1 2025 was higher cocoa prices, along with packaging, dairy, energy, and other ingredients[213](index=213&type=chunk) - The company expects to face elevated cocoa costs in the near- and medium-term and acknowledges it may not be able to increase prices sufficiently to fully cover these incremental costs, potentially leading to a significant adverse impact on profitability[216](index=216&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=56&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company is exposed to market risks from currency, commodity, and interest rates, using derivative instruments to mitigate earnings fluctuations and adverse impacts on operating results - The company's main market risk exposures are to currency exchange rates, commodity prices, and interest rates[223](index=223&type=chunk) - Derivative instruments are principally used to reduce significant, unanticipated earnings fluctuations from market volatility[224](index=224&type=chunk) [Controls and Procedures](index=56&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that disclosure controls and procedures were effective as of June 30, 2025, with no material changes to internal control over financial reporting during the quarter - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of June 30, 2025[226](index=226&type=chunk) - No material changes to internal control over financial reporting occurred during the quarter ended June 30, 2025[227](index=227&type=chunk) [PART II OTHER INFORMATION](index=57&type=section&id=PART%20II%20OTHER%20INFORMATION) [Legal Proceedings](index=57&type=section&id=Item%201.%20Legal%20Proceedings) This section refers to Note 10 for details on legal proceedings, including an ongoing class action lawsuit related to 2011 wheat futures and a settled European Commission investigation - Information regarding legal proceedings is detailed in Note 10, Commitments and Contingencies[229](index=229&type=chunk) [Risk Factors](index=57&type=section&id=Item%201A.%20Risk%20Factors) There were no material changes to the risk factors previously disclosed in the company's 2024 Annual Report on Form 10-K - There were no material changes to the risk factors disclosed in the company's 2024 Annual Report on Form 10-K[230](index=230&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=57&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) In Q2 2025, the company repurchased approximately **1.7 million shares** at an average price of **$64.46**, with **$7.4 billion** remaining under the current repurchase authorization through December 31, 2027 Issuer Purchases of Equity Securities for Q2 2025 | Period | Total Shares Purchased | Average Price Paid per Share | Value of Shares Remaining for Repurchase (M) | | :--- | :--- | :--- | :--- | | April 2025 | 588,992 | $64.70 | $7,507 | | May 2025 | 1,134,281 | $64.33 | $7,434 | | June 2025 | 945 | $67.22 | $7,434 | | **Total Q2** | **1,724,218** | **$64.46** | **$7,434** | - A new **$9.0 billion** share repurchase program is authorized through December 31, 2027. As of June 30, 2025, approximately **$7.4 billion** remained under this authorization[232](index=232&type=chunk) [Other Information](index=57&type=section&id=Item%205.%20Other%20Information) No directors or executive officers adopted or terminated Rule 10b5-1(c) trading plans or other non-Rule 10b5-1 trading arrangements during Q2 2025 - During Q2 2025, no directors or executive officers adopted or terminated insider trading arrangements under Rule 10b5-1(c)[234](index=234&type=chunk) [Exhibits](index=58&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with Form 10-Q, including employee benefit plans, CEO and CFO certifications, and financial statements in iXBRL format - Exhibits filed include management compensatory plans, CEO/CFO certifications (Rules 13a-14(a)/15d-14(a) and Section 906), and iXBRL data files[235](index=235&type=chunk)

Exhibit 99.1 1-847-943-5678 1-847-943-5454 news@mdlz.com ir@mdlz.com Second Quarter Highlights 1 Net Revenues +7.7%, Organic Net Revenues +5.6%, Volume/Mix -1.5% Diluted EPS increased 8.9% to $0.49 Adjusted EPS was $0.73 which declined 14.5% on a constant currency basis Year-to-date cash provided by operating activities was $1.4 billion and Free Cash Flow was $0.8 billion Return of capital to shareholders was $2.9 billion in the first half of the year Announcing +6% increase to quarterly dividend CHICAGO, I ...

Core Insights - Mondelēz International reported a net revenue increase of 7.7% in Q2 2025, with organic net revenue growth of 5.6% driven by strong pricing execution in the chocolate segment and growth across most geographies [1][2][5] - The diluted EPS rose by 8.9% to $0.49, while adjusted EPS decreased by 14.5% on a constant currency basis to $0.73 [1][4][14] - The company returned $2.9 billion to shareholders in the first half of 2025 and announced a 6% increase in the quarterly dividend [1][14] Financial Performance - **Net Revenue**: Q2 2025 net revenues reached $8.984 billion, a 7.7% increase compared to the previous year, with organic growth of 5.6% [3][19] - **Operating Income**: Operating income for Q2 2025 was $1.172 billion, reflecting a 37.2% increase year-over-year, while adjusted operating income decreased by 14.0% [4][14] - **Gross Profit**: Gross profit was $2.937 billion, up 5.0%, but the gross profit margin decreased to 32.7% [4][14] Regional Performance - **Latin America**: Reported net revenues of $1.194 billion, a decrease of 3.1% year-over-year, with organic growth of 5.4% [3] - **Asia, Middle East & Africa**: Revenues increased by 14.7% to $1.821 billion, with organic growth of 8.6% [3] - **Europe**: Revenues rose by 18.7% to $3.412 billion, with organic growth of 12.5% [3] - **North America**: Revenues decreased by 3.5% to $2.557 billion, with organic growth declining by 3.4% [3] Cash Flow and Capital Return - The company generated $1.4 billion in cash from operating activities year-to-date and reported free cash flow of $0.8 billion [1][14] - A quarterly cash dividend of $0.50 per share was declared, marking a 6% increase [1][14] 2025 Outlook - The company maintains an organic net revenue growth target of approximately 5% for 2025, with adjusted EPS expected to decline by about 10% on a constant currency basis due to cocoa cost inflation [7][8] - Free cash flow for 2025 is projected to exceed $3 billion [7]

Core Viewpoint - Analysts expect Mondelez (MDLZ) to report quarterly earnings of $0.68 per share, reflecting a year-over-year decline of 20.9%, with revenues projected at $8.88 billion, an increase of 6.4% from the previous year [1] Earnings Projections - There has been a downward revision of 0.2% in the consensus EPS estimate over the last 30 days, indicating a collective reassessment by analysts [1][2] Revenue Estimates by Geography - North America revenue is estimated at $2.59 billion, a decrease of 2.3% year-over-year [4] - Europe revenue is projected at $3.38 billion, an increase of 17.6% year-over-year [4] - AMEA revenue is expected to reach $1.71 billion, reflecting a year-over-year increase of 7.6% [4] - Latin America revenue is forecasted at $1.19 billion, indicating a decline of 3.5% year-over-year [5] Operating Income Estimates - Non-GAAP Operating Income for AMEA is estimated at $238.28 million, down from $292.00 million year-over-year [5] - Non-GAAP Operating Income for Europe is projected at $447.35 million, compared to $558.00 million from the previous year [5] - Non-GAAP Operating Income for North America is expected to be $491.50 million, down from $579.00 million year-over-year [6] - Non-GAAP Operating Income for Latin America is forecasted at $129.84 million, a decrease from $164.00 million year-over-year [6] Stock Performance - Mondelez shares have returned +4.3% over the past month, compared to a +5.7% change in the Zacks S&P 500 composite [6]

Accessibility StatementSkip Navigation The CHIPS AHOY! x Stranger Things Limited-Edition Cookie is inspired by the Upside Down, a dark alternate dimension that has played a key role throughout every season of Stranger Things. The cookies feature a new CHIPS AHOY! chocolatey base, fudge chips and a red strawberry-flavored filling. The brand's first-ever fruit- flavored filling peeks through the chocolatey cookie to represent the Rifts that are the entrance to the Upside Down. Before they even taste the delec ...

Core Insights - Mondelēz International, Inc. will release its second quarter 2025 financial results on July 29, 2025, at 4:05 p.m. ET, followed by a conference call at 5:00 p.m. ET [1] - The company reported net revenues of approximately $36.4 billion for the year 2024, highlighting its position as a leader in the snacking industry with a diverse portfolio of iconic brands [4] Financial Results Announcement - The financial results will be disclosed on July 29, 2025, at 4:05 p.m. ET [1] - A conference call will be held at 5:00 p.m. ET on the same day for investors and analysts [1] Participation Details - Investors and analysts can join the conference call by dialing 800-225-9448 from the U.S. or 203-518-9708 from other locations, with a recommendation to call in 10 minutes early [2] - A listen-only webcast will be available on the company's website [2] Replay Information - A replay of the conference call will be accessible until August 5, 2025, using the same phone numbers as the live call, with the access code MDLZQ225 [3] - An archive of the webcast will also be available on the company's website [3] Company Overview - Mondelēz International operates in over 150 countries, focusing on empowering people to snack right [4] - The company boasts a portfolio of well-known brands, including Oreo, Ritz, Clif Bar, and Cadbury Dairy Milk, among others [4] - Mondelēz is recognized as a member of the Dow Jones Best-in-Class North America and World Indices [4]

Core Point - Mondelēz Global LLC has announced a voluntary recall of specific RITZ Peanut Butter Cracker Sandwiches due to potential mislabeling that could pose a risk to individuals with peanut allergies [1][5]. Product Recall Details - The recall affects four carton sizes: 8-pack, 20-pack, and 40-pack of RITZ Peanut Butter Cracker Sandwiches, as well as the 20-pack RITZ Filled Cracker Sandwich Variety Pack [1][2]. - The affected products may be incorrectly labeled as Cheese variety, while they actually contain Peanut Butter [1][5]. - All outer cartons are correctly labeled and include an allergen advisory statement indicating the presence of peanuts [2]. Specific Product Information - The recalled products include: - 11.4 oz. RITZ Peanut Butter Cracker Sandwiches (8 Count) with Best When Used By Dates of NOV 25 and JAN 26 [3]. - 27.6 oz. RITZ Peanut Butter Cracker Sandwiches (20 Count) with Best When Used By Dates of NOV 25 and JAN 26 [3]. - 55.2 oz. RITZ Peanut Butter Cracker Sandwiches (40 Count) with Best When Used By Dates of NOV 25 and JAN 26 [3]. - 27.3 oz. RITZ Filled Cracker Sandwich 20-Count Variety Pack with Best When Used By Dates of NOV 25 [3]. Consumer Guidance - Consumers with peanut allergies are advised not to consume the affected products and to discard them [6]. - Mondelēz Global LLC has set up a consumer hotline for further information regarding the recall [6]. Company Overview - Mondelēz International, Inc. reported net revenues of approximately $36.4 billion in 2024 and operates in over 150 countries with a portfolio of iconic brands [7].

Core Viewpoint - The article discusses the balance between globalization and localization in supply chain management, emphasizing the importance of local innovation while leveraging global resources [3][4]. Group 1: Globalization and Localization - The relationship between globalization and localization requires a better balance, focusing on local consumer needs while utilizing global advantages [3]. - The company has achieved over 90% localization in packaging materials and raw materials in China, with 100% localization in biscuit production technology [3][4]. Group 2: Product Development Trends - The snack industry shows distinct market characteristics, with Chinese consumers preferring less sweet products due to health concerns, leading to the development of thinner, less sweet Oreo products [5]. - Local product development can inspire interest in other markets, showcasing a trend towards healthier snacks globally [5]. Group 3: Supply Chain Maturity and Challenges - The AMEA region faces varying supply chain maturity levels, with a need for patience in improving factory standards [6]. - The collaborative environment in China, supported by government and suppliers, is unique and not easily replicated elsewhere, highlighting the need for patience in global expansion [6][7]. Group 4: Talent Development and Leadership - The company employs two methodologies for talent development: "hunting" for specialized skills and "farming" for building foundational capabilities [9][10]. - Female leadership is emphasized, with a focus on establishing a unique leadership style and overcoming feelings of inadequacy [11]. Group 5: Lighthouse Factories and AI Integration - The Suzhou factory is recognized as a global lighthouse factory, showcasing advancements in employee engagement and technology integration [12][13]. - Future AI applications are expected to enhance decision-making processes and optimize supply chain efficiency [14][15]. Group 6: Future Supply Chain Challenges - Key challenges include building a flexible supply chain, ensuring sustainability, and engaging the new generation of workers [16]. - Recommendations for supply chain professionals include focusing on loss reduction, maintaining a broad perspective while addressing specific issues, and fostering collaboration [17][18][19].

Industry Overview - The Zacks Food-Miscellaneous industry is experiencing challenges due to persistent inflation affecting consumer spending and a shift towards private-label products [1][4] - Rising input costs and operational expenses are squeezing profit margins across the sector [1][5] - The industry includes a variety of food and packaged food items, with sales primarily through wholesalers, distributors, and retail channels [3] Major Trends - The market landscape is tough, with consumers increasingly opting for lower-cost alternatives, impacting sales volumes for leading food brands [4] - Companies are adopting strategies focused on value marketing, promotional campaigns, and expanding affordable product lines to meet changing consumer demands [4] - Cost pressures are significant, with elevated prices for raw materials, labor, and transportation affecting profitability [5] Strategic Initiatives - Food companies are focusing on cost efficiency, product innovation, and portfolio diversification to navigate current pressures [2][6] - Established brands are leveraging customer loyalty and innovation to maintain market position and adapt to consumer preferences [6] - Companies are modernizing production capabilities and diversifying product offerings to ensure future growth [6] Industry Performance - The Zacks Food-Miscellaneous industry ranks 187, placing it in the bottom 24% of over 250 Zacks industries, indicating dull near-term prospects [7][8] - The industry's consensus earnings estimate has declined by 3.1% since April 2025, reflecting decreasing confidence in earnings growth potential [8] Comparative Analysis - Over the past year, the industry has underperformed the S&P 500, declining by 6.9% compared to the S&P 500's growth of 12.5% [9] - The industry is currently trading at a forward P/E of 15.85X, lower than the S&P 500's 22.43X and the sector's 17.39X [12] Company Highlights - Mondelez International is focusing on core categories and strategic portfolio reshaping, with a current EPS estimate of $3.02 [15][16] - Sysco Corporation is enhancing capabilities through its "Recipe for Growth" framework, with an EPS estimate of $4.38 [19][20] - McCormick & Company is leveraging innovation and brand marketing, with a current EPS estimate of $3.02 [23][24] - Celsius Holdings is rapidly growing in the beverage sector with a focus on health-conscious products, though its EPS estimate has declined to 81 cents [27][29]

Core Insights - The appointment of Zhu Lei, former General Manager of Kraft Heinz China, to lead the frozen cake team at Mondelēz China is seen as a strategic move to strengthen the company's frozen cake business in the region [2][3] - Zhu Lei's extensive experience in the fast-moving consumer goods (FMCG) sector, including roles at AB InBev, Bain Capital, and Boston Consulting Group, positions him well to drive innovation and digital transformation in Mondelēz's product offerings [2] - The integration of the strategic development department into Zhu Lei's management indicates Mondelēz's intention to elevate frozen cakes from a peripheral business to a core growth area, capitalizing on the higher profit margins and growth potential compared to biscuits [2] Company Developments - In 2022, Mondelēz collaborated with Enxi Village to launch the Oreo Cheesecake and invested 32 million yuan in a production line for "Oreo Cloud Cake" at its Beijing factory [3] - The company plans to increase its stake in Enxi Village to 72% in 2024, enhancing supply chain control and indicating a commitment to expanding its presence in the frozen baking sector [3] - The competitive landscape for frozen cakes remains challenging, with traditional baking brands and emerging trendy dessert shops vying for market share, necessitating effective channel management and digital strategies from Zhu Lei to maintain Mondelēz's leading position [3]