01—Abstract
Summary
Summary of the 8-K filed December 16, 2025. Cited figures are marked; the original filing is the authoritative source.
The Kraft Heinz Company (Nasdaq: KHC) announced a leadership transition effective January 1, 2026.
The Board appointed Steve Cahillane, who most recently served as Chairman, President and CEO of Kellanova, as Chief Executive Officer and as a Board member. Cahillane will also serve as CEO of Global Taste Elevation Co. following the company's planned separation into two independent, publicly traded companies. Carlos Abrams-Rivera will step down as CEO and Board member on January 1, 2026, and remain as a senior advisor until March 6, 2026.
The Board will initiate a global search for a CEO to lead North American Grocery Co. Cahillane's offer letter provides a base salary of $1,400,000,a a target annual bonus of 225% of base salary, and a target annual equity award of $9,000,000 subject to Board approval. He will also receive a one-time sign-on equity award with a target value of $11,000,000, granted on or about January 30, 2026, split 50% restricted stock units and 50% performance share units. Abrams-Rivera's separation agreement provides continued base salary and benefits through the transition period, but no further bonuses, incentive compensation or equity grants, with severance subject to a release of claims.
Board changes are also effective January 1, 2026: Miguel Patricio steps down as Executive Chair and resigns from employment, remaining as a non-employee director, and John T. Cahill, Vice Chair, becomes Board Chair.
Cahill will continue to lead the Board's Separation Committee. The separation is expected to close in the second half of 2026, subject to customary conditions including final Board approval and a tax opinion.
02—Key points
Key Highlights
- Steve Cahillane appointed CEO effective January 1, 2026, and will also join the Board; he will lead Global Taste Elevation Co. after the planned separation.
- Cahillane's offer letter sets a base salary of $1,400,000 and a target annual bonus of 225% of base salary, with a maximum of 120% of target.
- Cahillane's target annual equity award is $9,000,000, subject to Board approval, plus a one-time sign-on award with a target value of $11,000,000 granted on or about January 30, 2026.
- Carlos Abrams-Rivera steps down as CEO and Board member effective January 1, 2026, and remains a senior advisor until March 6, 2026, with no further bonuses or equity grants.
- Miguel Patricio steps down as Executive Chair and will remain a non-employee director; John T. Cahill becomes Board Chair effective January 1, 2026.
- The Board will initiate a global search for a CEO to lead North American Grocery Co., the other company expected from the separation.
- The planned separation into two standalone companies is expected to close in the second half of 2026 and is intended to be tax-free to the company and its shareholders.
03—Questions
Frequently Asked Questions
Who is the new CEO of Kraft Heinz and when does he take over?
Steve Cahillane, 60, takes over as CEO effective January 1, 2026. He previously served as President and CEO of Kellanova, previously Kellogg Company, from October 2017 to December 2025.
What is Steve Cahillane's compensation package?
He will receive an annual base salary of $1,400,000, a target annual bonus of 225% of base salary with a maximum of 120% of target, and an annual equity award target of $9,000,000 subject to Board approval. He also receives a one-time sign-on equity award with a target value of $11,000,000, split 50% restricted stock units and 50% performance share units.
What happens to Carlos Abrams-Rivera?
He steps down as CEO and from the Board effective January 1, 2026, and remains employed as a senior advisor until March 6, 2026. He will continue to receive base salary and benefits during the transition period but will not receive further bonuses, incentive compensation or equity grants. Severance is subject to a release of claims.
Who will lead the Board, and what happens to Miguel Patricio?
John T. Cahill, Vice Chair and former CEO of Kraft, becomes Board Chair effective January 1, 2026. Miguel Patricio resigns as Executive Chair and from employment, and remains on the Board as a non-employee director.
What is the status of the planned separation?
Kraft Heinz plans to separate into two independent, publicly traded companies, Global Taste Elevation Co. and North American Grocery Co. The company expects the transaction to close in the second half of 2026, subject to customary conditions including final Board approval, a tax opinion and effective SEC filings.
04—Continue