Exodus on at Kraft Cadbury; two more executives quit
Two senior officials at chocolate and confectionery maker Kraft Cadbury have quit even as two others have been relocated, in the post-integration shake-out.
Rajesh Garg, director, finance, South Asia & Indo China and Shivanand Sanadi, VP, legal affairs and corporate legal counsel have put in their papers. Jaiboy Phillips, director (operations), and Sunil Sethi, executive director, sales and customer development, have been relocated to other roles within the company. The exits are to do mainly with Irene Rosenfeld-led Kraft Foods making sweeping changes while attempting to integrate the two firms, which has not gone down well with top officials, says an executive who does not wish to be named.
The marketing functions too have been split between chocolates and beverages and this has led to dissonance, says another official, who too did not wish to be named. Nearly 20 officials have quit since the integration. "Several layers are being created in reporting structures... it's curbing independent decision making... it's a clash of cultures and people here are not used to that," says the executive.
The company, however, chose to play down the exits. "People movements are a natural part of any dynamic, fast-growing company.
Some of the individuals you refer to have been promoted within the Kraft Foods world to take on bigger responsibilities, and others have chosen to move on for professional or personal reasons," says a spokesperson.
Kraft's $18.9-billion acquisition of Cadbury was hostile, and Kraft has faced attrition in other markets like the UK as well. The changing dynamics could have irked top officials, especially since Cadbury has been performing exceptionally well in India. Its revenues were up 27% in 2010, and India was seen as a star market in the Kraft system.
Source: Economic Times