Kraft Heinz said Monday Chief Executive Miguel Patricio will step down from the role and will be replaced by Carlos Abrams-Rivera, the president of its North American business, effective Jan. 1.
Patricio, who has served as the Kraft's CEO since 2019, will remain non-executive chair of the company's board, the company said.
Abrams-Rivera joined Kraft in 2020 and is credited with steering the company's North American retail and foodservice businesses through the pandemic. He will take on the added responsibilities as president of Kraft Heinz, effective immediately.
Kraft Heinz earlier this month missed estimates for quarterly sales, as customers bought fewer packaged meals and condiments from the Jell-O maker because of higher product prices.
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