Kraft Adds Juliber and Zarb to Board of Directors; Signs Agreement with Trian Partners and Kellogg Company Elects Clorox Company Chairman and CEO Donald R. Knauss To Board
City of Industry, CA --(www.USEquityNews.com)-- 11/08/2007 - Consumer Goods industry alert provided by U.S. Equity News. Kraft Foods Inc. (NYSE: KFT) announced recently that it is expanding its Board of Directors from nine to eleven members to include Lois Juliber, retired Vice Chairman and Chief Operating Officer (COO) of Colgate-Palmolive Company; and Frank Zarb, Managing Director of the private equity firm Hellman & Friedman LLC. This brings the number of independent directors on the company’s Board to nine. “Our Board is united in its goal of building value for all of our shareholders, and we are delighted to welcome Lois and Frank as directors,” said Irene Rosenfeld, Kraft Chairman and CEO.
NutraCea (OTCBB: NTRZ), a health science company and a world leader in stabilized rice bran (SRB), announced recently that the construction of its Southern Louisiana facility at Lake Charles is on track to be completed and commissioned by the end of March 2008. Leo Gingras, NutraCea's Chief Operating Officer, said, "After months of delay due to unusually wet weather, the building foundations are in place and we are now installing the frame of the building and our proprietary processing equipment. Mr. Gingras concluded, "We invite you to view photographs of our progress in Lake Charles by visiting our website at:
http://www.nutracea.com/facilities/."
> Kellogg Company (NYSE: K) announced recently the election of Donald R. Knauss, chairman and CEO of The Clorox Company, to its board of directors. Knauss assumed his role at Clorox in October 2006 and was formerly president and COO of Coca-Cola North America. "Don's diverse professional experience and leadership within the consumer products industry will be invaluable to our board of directors," said David Mackay, President and Chief Executive Officer, Kellogg Company.
Hefty marketing spending weighed down earnings at Sara Lee Corp. (NYSE: SLE), as the food maker posted a 40 percent decrease in fiscal first-quarter profit. Higher marketing and advertising expenses, which rose 21 percent, cut into profit as the company worked to boost sales. "We'll make investments in the business when it makes sense to support the right products at the right time with the right marketing mix," said Chief Executive Brenda Barnes.
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