Kraft's Rosenfeld to Lead Snacks Business

Kraft(KFT) said Monday CEO Irene Rosenfeld would lead the global snacks company after Kraft splits into two by the end of 2012.

Rosenfeld would head the group that includes brands such as Cadbury, Oreo and Nabisco. The company is expected to generate $32 billion in annual revenue.

Current Executive Vice President and President of Kraft Foods North America W. Anthony Vernon will become the CEO of the new North American grocery company. This new business, which anticipates annual revenue of $16 billion, will include brands such as Kraft, Oscar Mayer and Philadelphia.

Kraft announced in August that it was splitting into two publicly traded companies.

Shares of Kraft are down 6 cents to $36.44 in trading Monday.

-- Written by Alexandra Zendrian

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