Kraft Skids on Management Shake-Up, Altria's Woes

Updated from 8:38 a.m. EDT

Kraft(KFT Quote) shares slid Wednesday, hurt by a management shakeup at the company as well as news of potential woes for its parent company, Altria (MO Quote).

The food maker's shares ended down $1.16, or 3.6%, at $31.32, after the company said Irene B. Rosenfeld, president of its North American business, and Michael B. Polk, group vice president of the North American operation and president of the Nabisco unit, were leaving the company to pursue other opportunities.

The announcement signals that business trends are not "fully meeting goals," especially on the "top line," said John McMillan, an analyst at Prudential Securities, in a research note. ...