Summary
This 8-K filing from Mondelez International, Inc. (MDLZ) primarily announces changes in executive leadership and reaffirms the company's financial outlook for 2017. Effective April 18, 2017, Roberto Marques has stepped down from his role as Executive Vice President and President of North America. Timothy P. Cofer, currently the Executive Vice President and Chief Growth Officer, will assume the interim leadership of the North American business in addition to his existing responsibilities. The company also issued a press release on April 18, 2017, which included these executive changes and importantly, reaffirmed its previously stated financial outlook for the full fiscal year 2017. Investors should note that the press release is furnished as an exhibit and is not considered 'filed' for certain regulatory purposes, though it provides key forward-looking guidance.
Key Highlights
- 1Executive Leadership Change: Roberto Marques is no longer Executive Vice President and President, North America, effective April 18, 2017.
- 2Interim North America Leadership: Timothy P. Cofer appointed as interim President of North America, in addition to his role as Chief Growth Officer.
- 3Reaffirmed 2017 Financial Outlook: Mondelez confirmed its financial guidance for the fiscal year 2017 in a press release.
- 4Press Release Issued: A press release dated April 18, 2017, details these events and is furnished as an exhibit.
- 5Regulation FD Disclosure: The information provided, including the press release, is furnished under Regulation FD, not deemed 'filed' for certain purposes.
- 6Organizational Changes: The leadership change is part of broader organizational adjustments within the company.