Mondelēz International announces Volker Kuhn as new EVP and President, Europe, starting April 1, 2025, succeeding Vinzenz Gruber.
Quiver AI Summary
Mondelēz International has appointed Volker Kuhn as Executive Vice President and President of Europe, effective April 1, 2025, succeeding Vinzenz Gruber, who is retiring the same day. Kuhn will start with the company on January 6, 2025, working alongside Gruber to ensure a smooth transition. Previously, Kuhn worked at Reckitt, where he significantly improved performance in its hygiene business, and he has extensive experience from a 26-year tenure at Procter & Gamble, including leadership roles in various consumer product categories. Mondelēz CEO Dirk Van de Put expressed confidence in Kuhn's ability to drive growth in Europe. The company also acknowledged Gruber's strong leadership in enhancing iconic brands and expanding into new markets.
Potential Positives
- The appointment of Volker Kuhn as Executive Vice President and President, Europe, demonstrates Mondelēz International's commitment to strong leadership and strategic growth in a key market.
- Kuhn's extensive experience in the consumer packaged goods industry, including successful transformations and growth accelerations, is likely to positively influence the company's performance in Europe.
- The press release highlights a smooth transition plan, indicating stability and continuity within the leadership during the changeover from Vinzenz Gruber to Volker Kuhn.
- Kuhn's multilingual capabilities and international experience may enhance the company's ability to connect with diverse consumer markets in Europe.
Potential Negatives
- The announcement of Volker Kuhn's appointment follows the retirement of Vinzenz Gruber, which could indicate potential instability or uncertainty within the company's leadership during the transition period.
- The need for a new executive leadership in the European region may create concerns regarding the company's strategic direction and execution in a vital market for Mondelēz.
- The press release includes a forward-looking statement disclaimer, highlighting potential risks and uncertainties that could affect the company's future performance, which might diminish investor confidence.
FAQ
Who is Volker Kuhn and what role will he assume at Mondelēz International?
Volker Kuhn is appointed Executive Vice President and President, Europe, effective April 1, 2025, replacing Vinzenz Gruber.
When will Volker Kuhn officially start at Mondelēz?
Kuhn will join Mondelēz on January 6, 2025, to ensure a smooth transition with Vinzenz Gruber.
What experience does Volker Kuhn bring to Mondelēz?
Kuhn has extensive experience from Reckitt and Procter & Gamble, with a focus on consumer products and business transformations.
What has been Vinzenz Gruber's contribution to Mondelēz?
Gruber has driven commercial excellence and brand growth, successfully advancing brands like Cadbury and Oreo in Europe.
How does Mondelēz International rank in the snacking industry?
Mondelēz is a leader in snacking with 2023 net revenues of approximately $36 billion and operates in over 150 countries.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$MDLZ Congressional Stock Trading
Members of Congress have traded $MDLZ stock 4 times in the past 6 months. Of those trades, 1 have been purchases and 3 have been sales.
Here’s a breakdown of recent trading of $MDLZ stock by members of Congress over the last 6 months:
- REPRESENTATIVE JOHN JAMES sold up to $15,000 on 09/04.
- REPRESENTATIVE JARED MOSKOWITZ has traded it 3 times. They made 1 purchase worth up to $15,000 on 07/01 and 2 sales worth up to $30,000 on 07/05.
To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.
$MDLZ Hedge Fund Activity
We have seen 888 institutional investors add shares of $MDLZ stock to their portfolio, and 975 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- MIZUHO SECURITIES USA LLC added 12,470,573 shares (+12057.4%) to their portfolio in Q3 2024
- GQG PARTNERS LLC removed 12,308,012 shares (-99.9%) from their portfolio in Q3 2024
- CAPITAL WORLD INVESTORS removed 7,433,869 shares (-42.2%) from their portfolio in Q3 2024
- CAPITAL INTERNATIONAL INVESTORS added 4,896,871 shares (+43.5%) to their portfolio in Q3 2024
- NEUBERGER BERMAN GROUP LLC removed 3,569,058 shares (-51.8%) from their portfolio in Q3 2024
- ILEX CAPITAL PARTNERS (UK) LLP added 2,973,324 shares (+inf%) to their portfolio in Q3 2024
- GOLDMAN SACHS GROUP INC removed 2,895,918 shares (-32.2%) from their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
CHICAGO, Dec. 03, 2024 (GLOBE NEWSWIRE) -- Mondelēz International (Nasdaq: MDLZ) today announced the appointment of Volker Kuhn as Executive Vice President and President, Europe, effective April 1, 2025, reporting directly to Chair and Chief Executive Officer Dirk Van de Put. Kuhn will replace Vinzenz Gruber, who has announced his retirement from the Company, also effective April 1, 2025. Kuhn will join the organization on January 6, 2025, partnering with Gruber to ensure a smooth transition.
Kuhn joins Mondelēz from Reckitt’s hygiene business, its largest global unit, where he delivered top- and bottom-line performance acceleration driven by innovation, consumer centricity and category growth. Earlier, he served as Reckitt’s Chief Transformation Officer.
Before Reckitt, Kuhn spent 26 years with Procter & Gamble, leading several critical growth accelerations, turnarounds and business transformations across Europe, North America, the Middle East and Africa. Among many accomplishments, he led the successful carve-out and divestiture of Duracell from P&G to Berkshire Hathaway. His experience spans multiple consumer products categories, including 10 years leading the Pringles Snacks division in Europe, as well as expertise across disciplines including finance, brand marketing, business development and general management.
“We’re delighted to welcome Volker Kuhn to our Mondelēz International family,” Van de Put said. “His breadth and depth of international consumer packaged goods experience, coupled with his track record of impressive results and leadership impact, position him well to accelerate growth in our European region while continuing to strengthen consumer loyalty to our iconic brands.”
Kuhn serves as Chairman and a Non-Executive Board member of FROSTA AG, a leading European frozen food company. He is fluent in German, English, and French. He earned a master’s degree in economics and finance from the University of Fribourg, and he holds dual German and Swiss citizenship.
“On behalf of Team Mondelēz, and especially our European colleagues, I’d like to thank Vince for his strong leadership and passionate dedication in driving commercial and operational excellence, consumer loyalty, and employee development,” Van de Put said. “With Vince at the helm, we have advanced core brands including Cadbury, Milka and Oreo across Europe, while expanding into exciting adjacencies such as snack bars, cakes and pastries – setting up the business for continued growth and success. We wish him the very best in retirement.”
About Mondelēz International
Mondelēz International, Inc. (Nasdaq: MDLZ) empowers people to snack right in over 150 countries around the world. With 2023 net revenues of approximately $36 billion, MDLZ is leading the future of snacking with iconic global and local brands such as
Oreo
,
Ritz, LU, Clif
Bar
and
Tate's Bake Shop
biscuits and baked snacks, as well as
Cadbury Dairy Milk
,
Milka
and
Toblerone
chocolate. Mondelēz International is a proud member of the Standard and Poor’s 500, Nasdaq 100 and Dow Jones Sustainability Index. Visit
www.mondelezinternational.com
or follow the company on X at
x.com/MDLZ
.
Forward-Looking Statements
This press release contains forward-looking statements. Words, and variations of words, such as “will,” “may,” “expect,” “plan,” “continue” and similar expressions are intended to identify these forward-looking statements, including, but not limited to, statements of belief or expectation and statements about Mondelēz International’s leadership position in snacking. These forward-looking statements are subject to change and to inherent risks and uncertainties, many of which are beyond Mondelēz International’s control, which could cause Mondelēz International’s actual results or outcomes to differ materially from those projected or assumed in these forward-looking statements. Please also see Mondelēz International’s risk factors, as they may be amended from time to time, set forth in its filings with the U.S. Securities and Exchange Commission, including its most recently filed Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. There may be other factors not presently known to Mondelēz International or which it currently considers to be immaterial that could cause Mondelēz International’s actual results to differ materially from those projected in any forward-looking statements it makes. Mondelēz International disclaims and does not undertake any obligation to update or revise any forward-looking statement in this press release, except as required by applicable law or regulation.
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