Kraft Foods, a global snacks firm, has announced that Timothy McLevish, executive vice president (EVP) and chief financial officer (CFO), will leave the company mid-year 2011 to pursue opportunities in general management. McLevish will be fully engaged in reporting the company’s first quarter financial results. He will officially shift his CFO responsibilities to David Brearton, currently EVP, operations, after the company files its first quarter financial statements.
Brearton began his career with the company in 1984 in his native Canada. He progressed through a series of senior finance roles, including as senior vice president (SVP), finance, Kraft Foods International, and as corporate controller.
Since that time, Brearton has led several functions, including: strategy; mergers and acquisitions (M&As), during the time Kraft Foods acquired the LU biscuit business; information systems, during the company’s ‘Catalyst’ SAP implementation; and most recently as the head of operations, overseeing the procurement, manufacturing, and customer service and logistics functions. Under Brearton’s leadership, the current Lean Six Sigma initiative began in North America. As a member of the Kraft executive team for the past six years, he worked to develop and execute the company’s long-term strategy.
As a board member of Feeding America, the nation’s leading hunger-relief organisation, Brearton supports Kraft Foods’ efforts to reduce hunger and malnutrition. He holds a bachelor of commerce degree from Queen’s University in Ontario, and is a certified management accountant (CMA).
The company has initiated an external search to fill Brearton’s current role as EVP, operations.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.