Management Turnover as Change Agent

Friday, August 22, 2008

Recommended Reading -Turnaround Kraft (KFT): New management 'shakes things up'

Steve Halpern of Bloggingstocks wrote a piece today highlighting the ongoing management changes and what they have meant for Kraft KFT (NYSE).  Most of Halpern's piece refers to a story written by George Putnam of the Turnaround Letter.  Back in 2006, Kraft brought back Irene Rosenfeld to Kraft to run the company.  From the time she came back she has been working hard to strengthen the company's key management. Just as an aside, back in February of 2008 it was revealed that Warren Buffett's Berkshire Hathaway accumulated a 8.6% stake in the company, another possible show of confidence in Rosenfeld's plans (see CNBC).

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