Jan 29 (Reuters) – Mondelez International announced that its finance chief, Luca Zaramella, would expand his role to be the Oreo maker’s chief operating officer starting February.
The Toblerone maker also said it is searching for Zaramella’s successor to the CFO position, which he has been serving in since 2018.
The newly created COO role is designed to enhance execution and increase the speed of decision-making, a company spokesperson told Reuters.
This change will also allow CEO Dirk Van De Put to increase his focus on the company’s major strategic initiatives, long-term growth and value creation strategy, the spokesperson added.
Mondelez had been battling volume pressures as value-conscious consumers scaled back on purchases of its pricey chocolates and snacks while also seeking healthier snacking options. The company is set to report its fourth-quarter results on February 3.
(Reporting by Neil J Kanatt in Bengaluru; Editing by Leroy Leo)
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