01—Abstract
Summary
Summary of the 8-K filed June 17, 2025. Cited figures are marked; the original filing is the authoritative source.
The Kraft Heinz Company (KHC) filed this Form 8-K on June 17, 2025 under Item 5.02 to report a leadership change in its finance organization.
Vince Garlati, Vice President, Global Controller and Principal Accounting Officer, notified the Company on June 12, 2025 that he will step down from that role effective June 22, 2025. He will remain with the Company as Vice President of Corporate Strategic Projects. Chris Asher, age 45, the Company's Deputy Global Controller since February 2024, will succeed Mr. Garlati as Vice President, Global Controller and Principal Accounting Officer effective June 22, 2025.
Mr. Asher previously served as acting Principal Accounting Officer from March 2024 to November 2024, and held prior controller and assistant global controller roles dating back to September 2018. The Human Capital and Compensation Committee approved Mr. Asher's new compensation: an annual base salary of $400,000a and a Performance Bonus Plan target of 120% of base salary. Beginning in 2026, he will be eligible for an annual equity award valued at 50% of base salary, made up of 70% performance share units and 30% restricted stock units, vesting 75% on the third anniversary and 25% on the fourth anniversary of the grant date.
02—Key points
Key Highlights
- Vince Garlati steps down as Vice President, Global Controller and Principal Accounting Officer effective June 22, 2025, and remains with the Company as Vice President of Corporate Strategic Projects.
- Chris Asher, Deputy Global Controller since February 2024, succeeds Garlati in the Global Controller and Principal Accounting Officer roles effective June 22, 2025.
- Asher previously served as acting Principal Accounting Officer from March 2024 to November 2024, giving him prior experience in the PAO role.
- Asher's new annual base salary is $400,000, with a Performance Bonus Plan target opportunity of 120% of base salary.
- Beginning in 2026, Asher will be eligible for an annual equity award valued at 50% of base salary, split 70% performance share units and 30% restricted stock units.
- Equity awards vest 75% on the third anniversary and 25% on the fourth anniversary of the grant date.
- The filing states Asher was not selected under any arrangement, has no familial relationships with directors or executive officers, and has no related-person transactions requiring disclosure under Item 404(a) of Regulation S-K.
03—Questions
Frequently Asked Questions
Who is replacing Vince Garlati as Principal Accounting Officer?
Chris Asher, the Company's Deputy Global Controller, will succeed Garlati as Vice President, Global Controller and Principal Accounting Officer effective June 22, 2025.
Is Vince Garlati leaving the Company?
No. The filing states that Garlati will remain with the Company as Vice President of Corporate Strategic Projects after stepping down from his controller and principal accounting officer role.
What is Chris Asher's background?
Asher has been Deputy Global Controller since February 2024. He previously served as acting Principal Accounting Officer from March 2024 to November 2024, Vice President, North America Controller from January 2022 to February 2024, Assistant Global Controller from July 2020 to January 2022, and Assistant Global Controller, Consolidations and Financial Reporting from September 2018 to July 2020.
What compensation will Chris Asher receive?
Asher's annual base salary is $400,000 and his annual Performance Bonus Plan target is 120% of base salary. Beginning in 2026, he will be eligible for an annual equity award valued at 50% of base salary, consisting of 70% performance share units and 30% restricted stock units, vesting 75% on the third anniversary and 25% on the fourth anniversary of the grant date.
Are there any related-party concerns with Asher's appointment?
The filing states Asher has no familial relationships with any director or executive officer and no transactions with the Company requiring disclosure under Item 404(a) of Regulation S-K.
04—Continue