Kraft Foods Group Posts Loss as Three Executives Leave
The maker of Jell-O, Kraft Macaroni and Cheese, and Planters reported a loss in the fourth quarter and announced the departure of three top executives.
Watch for shares of Kraft Foods Group (KRFT) in Friday's trading session. The maker of Jell-O, Kraft Macaroni and Cheese, and Planters reported a loss in the fourth quarter and announced the leave of three top executives. The package foods company reported a loss, but revenue was still up 2.2% from a year ago to $4.69 billion. Kraft said its fourth quarter loss is mainly due to a one-time charge of $1.36 billion related to post-employment benefit plans. The company's chief financial officer and two other senior executives are set to leave the company. TheStreet's Kurumi Fukushima reports in New York.
