01—Abstract
Summary
Summary of the 8-K filed June 18, 2026. Cited figures are marked; the original filing is the authoritative source.
Mondelēz International (MDLZ) announced that Amit Banati will become Executive Vice President and Chief Financial Officer effective July 1, 2026, reporting directly to Chair and CEO Dirk Van de Put.
Banati is a veteran consumer-goods CFO. He most recently served as CFO of Kenvue (May 2025 to May 2026), and previously as Vice Chair and CFO of Kellanova (formerly Kellogg) and as Kellogg's CFO from 2019 to 2023. He also has earlier experience at Kraft Foods, Cadbury Schweppes, and Procter & Gamble, and he previously led Kellogg's Asia Pacific, Middle East and Africa region.
The appointment is a leadership transition rather than a financial disclosure, and the filing contains no change to guidance or financial results. The transition is orderly. Luca Zaramella, who has served as CFO for eight years, remains with the company as Executive Vice President and Chief Operating Officer, overseeing commercial operations, the four geographic regions, corporate sales, marketing, and supply chain.
Investors should read this as a continuity-minded handoff in which the CEO gains a new finance lead with global consumer and emerging-market experience while the prior CFO's operational expertise stays in the business. Compensation is disclosed at a headline level. Banati's base salary is $1.05 milliona, his target annual incentive is 125% of base salary, and his target long-term equity grant is $5 million.
For 2026 the equity grant is split 50% performance share units, 25% deferred stock units, and 25% stock options. He will also receive a cash make-whole award capped at $7 millionb to offset forfeited compensation from his former employer.
That award is subject to repayment on specified termination events before the second anniversary of the start date. The full Offer Letter will be filed with the Q2 2026 Form 10-Q.
02—Key points
Key Highlights
- Amit Banati appointed EVP and CFO effective July 1, 2026, reporting directly to Chair and CEO Dirk Van de Put and joining the Mondelēz International Leadership Team.
- Banati brings CFO experience from Kenvue (2025-2026), Kellanova/Kellogg (2019-2025), and earlier roles at Kraft Foods, Cadbury Schweppes, and Procter & Gamble.
- Luca Zaramella, CFO for eight years, moves to Executive Vice President and Chief Operating Officer, leading commercial operations, the four regions, sales, marketing, and supply chain.
- Base salary of $1,050,000 with a 125% target annual incentive under the Management Incentive Plan.
- Target annual long-term equity grant of $5 million for 2026: 50% PSUs, 25% DSUs, and 25% stock options.
- Make-whole cash award of up to $7 million to replace compensation forfeited at his former employer, subject to clawback on specified terminations before the second anniversary of the start date.
- Banati has agreed to a 12-month post-employment non-compete and non-solicit covenant; the full Offer Letter will be filed with the Q2 2026 Form 10-Q.
03—Questions
Frequently Asked Questions
When does Amit Banati take over as CFO, and who does he report to?
Banati's appointment is effective July 1, 2026. He reports directly to Dirk Van de Put, Chair and Chief Executive Officer, and is a member of the Mondelēz International Leadership Team.
What happens to Luca Zaramella?
Zaramella remains with the company as Executive Vice President and Chief Operating Officer. His focus shifts to commercial operations, including the four geographic regions, corporate sales, marketing, and supply chain.
What is Banati's compensation package?
The disclosed package includes a $1.05 million base salary, a 125% target annual incentive, and a $5 million target annual equity grant for 2026, split 50% PSUs, 25% DSUs, and 25% stock options. A make-whole cash award of up to $7 million will also be paid after the start date to offset forfeited compensation from his former employer. The complete terms will be in the Offer Letter filed with the Q2 2026 10-Q.
Does the make-whole payment have any strings attached?
Yes. The payment is a lump sum, but it is subject to full or partial repayment if specified termination events occur before the second anniversary of the start date. The specific triggers are described in the Offer Letter, which has not yet been filed.
Does this appointment signal any change to Mondelēz's financial outlook?
The 8-K contains no financial results, guidance changes, or strategic announcements. The filing is a leadership and compensation disclosure. Investors should look to future earnings communications, and to Banati's early commentary, for any indication of changes in financial priorities.
04—Continue