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Kraft Foods' CEO Discusses 2011 Results - Earnings Call Transcript

Kraft Foods (KFT)

2011 Earnings Call

February 21, 2012 10:30 am ET

Executives

Christopher Jakubik -

Irene B. Rosenfeld - Chairman and Chief Executive Officer

David A. Brearton - Chief Financial Officer and Executive Vice President of Operations

Analysts

Andrew Lazar - Barclays Capital, Research Division

Presentation

Andrew Lazar - Barclays Capital, Research Division

All right, everybody, if we could find our seats, we'll move on to our next presenter. Thank you. Before we get started with our next presentation, Kraft Foods, please join me in thanking Kraft for generously sponsoring today's lunch.

Now in 2011, having had a fair share of jousters, Kraft stood out as one of the bright spots in the packaged food group, partly due to the separation announcement, but also due to the solid core business trends that we've seen. And with us today, we have both leaders of what will be the global snacks in North America grocery units, respectively. Thank you all for being here. First, let me turn it over to the Head of IR, Chris Jakubik, to lay out today's agenda. Over to you, Chris. Thanks.

Christopher Jakubik

Thanks, Andrew. Good morning, everyone, and thank you for joining us here at CAGNY. As you may have noticed, earlier today, we reported our Q4 and full year 2011 results, and they were right in line, if not, a bit better on the bottom line than the guidance update we've provided in mid-January. Along those lines, today, we'll be making a number of forward-looking statements about the company's performance. This Safe Harbor Statement here is designed to cover those statements. But I'll refrain from reading it for you because we have a full agenda. We have a full agenda today because 2012 will be another big year for Kraft.

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