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Kraft Heinz Sets Diversity Goals, Including More Women Execs

Kraft Heinz wants gender parity in its management positions, lifting the representation of women in management to 50% from 37%.

Food stalwart Kraft Heinz  (KHC) - Get Kraft Heinz Company Report saidThursday that it wants gender parity in its management positions by 2025.

That means increasing the representation of women in management from 37% to 50%.

The company’s other diversity, inclusion and belonging goals include:

-- “Reaching demographic parity in the countries where Kraft Heinz operates by 2025. For example, in the U.S., where more than half its employees live and work, the company aspires for people of color to represent 30% of the salaried employee population by 2025. Currently, this population is 24%.

-- “Fostering a culture in which all employees from all backgrounds truly feel included and feel a sense of belonging at Kraft Heinz.”

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Currently, the Kraft Heinz executive leadership is 30% women and 80% people of color, while the board members are 18% women and 36% people of color, the Pittsburgh company said.

“We want the voices within our company to reflect and represent our consumers as we innovate our products, create our marketing, and partner with customers and suppliers,” Chief Executive Miguel Patricio said in a statement.

Kraft also unveiled a new supplier diversity program, starting with U.S. businesses that are majority-owned by people of color, women, LGBTQ-plus individuals, people with disabilities, and veterans.

“Such certified businesses will gain access to essential skills, tools, and networks through the program, giving them the opportunity to become Kraft Heinz suppliers,” Kraft said. 

The program starts in the U.S. and Kraft Heinz intends to take it global.

Kraft Heinz shares recently traded at $37.22, up 1.1%. They have slipped 9% over the past six months.