Summary
This 8-K filing from Kraft Foods Inc. (the predecessor to Mondelez International, Inc. for this filing date) announces a significant leadership change within its finance department. James P. Dollive, the Executive Vice President and Chief Financial Officer, is retiring, although an exact retirement date has not yet been set. Mr. Dollive has committed to assisting in an orderly transition of his responsibilities. The report also details the appointment of Timothy R. McLevish as the new Executive Vice President and Chief Financial Officer, effective October 1, 2007. Mr. McLevish brings extensive financial leadership experience from his previous roles at Ingersoll-Rand Company Limited and Mead Corporation. The filing outlines Mr. McLevish's comprehensive compensation package, including base salary, incentive plans, equity awards, and a sign-on bonus, reflecting the company's investment in securing experienced financial leadership.
Key Highlights
- 1Retirement of James P. Dollive as EVP and CFO.
- 2Appointment of Timothy R. McLevish as the new EVP and CFO, effective October 1, 2007.
- 3Mr. Dollive has agreed to stay on to ensure a smooth transition.
- 4Mr. McLevish has significant prior financial executive experience at Ingersoll-Rand and Mead Corporation.
- 5Mr. McLevish's compensation package includes a base salary of $675,000.
- 6Incentive compensation for Mr. McLevish includes participation in Management Incentive Plan (MIP) and Long-Term Incentive Plan (LTIP).
- 7Mr. McLevish receives substantial equity awards and a $500,000 sign-on bonus, with repayment conditions.