Kraft Heinz CEO on paused split: My focus is now on turning around the North American business

Core Viewpoint - Craft Hinds is attempting to reverse its prolonged stock and sales slump by pausing its planned separation into two companies and focusing on turning around its North American business [1][4]. Group 1: Company Strategy - The company has decided to pause the separation plan to concentrate on improving the health of its North American grocery business, which has not been performing as expected [4][5]. - The CEO emphasizes that the primary focus is now on turning around the North American business to create a healthier state, which will preserve the option for future separation if desired [5][6]. - A significant investment of $600 million has been announced to support marketing expansion and return to organic growth, addressing the loss of market share over the past decade [7][9]. Group 2: Market Performance - Since the merger of Craft Hinds ten years ago, the company has consistently lost market share each year, with the last year being particularly poor [8][9]. - The company operated with significantly lower overhead and marketing levels compared to peers, which contributed to its declining market position [8][9]. - The new investment aims to bring marketing levels closer to industry benchmarks, with the expectation that improvements will take time but are necessary for recovery [9][10].