8-KLeadership Changes

Mondelez International, Inc. 8-K Report, Executive Changes (Jul 1, 2011)

Filed July 1, 2011For Securities:MDLZ

Summary

This 8-K filing from Kraft Foods Inc. (predecessor to Mondelez International) on July 1, 2011, primarily concerns an amendment to the Separation Agreement and General Release for its former Executive Vice President and Chief Financial Officer, Timothy R. McLevish. The amendment extends Mr. McLevish's tenure with the company from June 30, 2011, to September 30, 2011. While the core details of the separation agreement were disclosed previously, this update signals a continuation of the CFO's role beyond the initially planned departure date. Investors should note that the specific reasons for this extension are not detailed in this filing, but it may indicate a need for continued transition support or a revised exit strategy. Further details on the amended agreement will be provided in Kraft Foods' upcoming Quarterly Report on Form 10-Q for the quarter ended June 30, 2011.

Key Highlights

  • 1Amendment to Separation Agreement for former CFO, Timothy R. McLevish, extending his employment from June 30, 2011, to September 30, 2011.
  • 2Original Separation Agreement and General Release was first disclosed on April 8, 2011.
  • 3The filing is made by Kraft Foods Inc., the registrant at the time.
  • 4The company is providing updated information on executive transition.
  • 5Additional details regarding the amended agreement will be available in the Form 10-Q for the quarter ended June 30, 2011.
  • 6No other material events or executive changes are reported in this specific filing.

Frequently Asked Questions

The main purpose of this 8-K filing is to report an amendment to the Separation Agreement and General Release for Timothy R. McLevish, the former Executive Vice President and Chief Financial Officer of Kraft Foods Inc. The amendment extends his term of employment with the company.

The original Separation Agreement and General Release with Timothy R. McLevish was disclosed in a previous Current Report on Form 8-K filed by Kraft Foods Inc. on April 8, 2011.

This 8-K filing does not provide specific reasons for the extension of Mr. McLevish's employment beyond the initial June 30, 2011, date. Investors will need to refer to the upcoming Form 10-Q for further details that may be disclosed regarding the amendment.

This filing was made by Kraft Foods Inc. in 2011, prior to the official formation and spin-off of Mondelez International (which occurred in October 2012). While this concerns executive transitions within Kraft Foods Inc. at the time, it is a precursor to the larger corporate restructuring that led to Mondelez. The specific details of this amendment are about the CFO's role within Kraft Foods Inc. as it existed then.