Kraft Foods Names Belcourt EVP Strategy for Global Snacks Co.
Former Bain & Co. partner brings deep experience from global consumer industries
Published in CSP Daily News
NORTHFIELD, Ill. -- Kraft Foods Inc. has announced that Tracey Belcourt will join the company as executive vice president of strategy in September. Belcourt, 45, will lead the strategy function and mergers and acquisition activities for the global snacks company, Mondelez International Inc., following the spinoff of Kraft's North American grocery business on October 1.
In this role, Belcourt will report to chairman and CEO Irene Rosenfeld, with responsibility for evolving and implementing the company's growth strategy.
"Tracey is a highly accomplished corporate strategist with extensive background in consumer industries," said Rosenfeld. "She has broad international work experience throughout Latin America, Europe, Asia and Africa. She joins us at an exciting time, as we chart the course for our new global snacks company."
Belcourt has been a partner at Bain & Co. in Toronto since 1999, leading teams that specialized in the design and implementation of growth strategies to improve business performance across a variety of consumer industries. She was an economic consultant to the U.S. Agency for International Development in Africa in 1999, and prior to that, served for five years as an assistant professor of economics at Concordia University in Montreal.
The announcement of Tracey, together with the recent announcement of Kim Rucker as General Counsel of the future North America grocery company, completes the leadership teams of the two companies for the spinoff.
Northfield, Ill.-based Kraft Foods is a global snacks company with a portfolio of biscuit, confectionery, beverage, cheese, grocery and convenient meal brands in approximately 170 countries, Kraft Foods had 2011 revenue of $54.4 billion. Twelve of the company's brands--Cadbury, Jacobs, Kraft, LU, Maxwell House, Milka, Nabisco, Oreo, Oscar Mayer, Philadelphia, Tang and Trident--generate revenue of more than $1 billion annually. On Aug. 4, 2011, Kraft Foods announced plans to divide and create two independent public companies: a high-growth global snacks business and a high-margin North American grocery business. The transaction is expected to be completed before the end of 2012.