Tony Vernon

Last updated

W. Anthony "Tony" Vernon is a business executive who was the first chief executive officer of Kraft Foods after it was spun off from the Mondelēz International in 2012. Prior to his time at Kraft, he had a 23-year career at Johnson & Johnson and spent three years with Ripplewood Holdings. When he took on this position his salary increased to $1m per annum. Vernon’s overall compensation was $9.19 million for 2013. [1]

Contents

Education

Vernon holds a bachelor's degree from Lawrence University in history and a Master of Business Administration from the Kellogg Graduate School of Management at Northwestern University. [2]

Career

During his 23-year career at Johnson & Johnson, Vernon ran independent business units and led consumer brands such as Tylenol, Motrin, Pepcid AC, Imodium and Splenda. [2] He then served as healthcare industry partner of Ripplewood Holdings for three years before joining Kraft in 2009. [2] In June 2009, Kraft Foods Inc. announced that Vernon would become President of Kraft Foods North America that August, replacing Rick Searer. [2] In December 2011, when the company announced that it would reorganize in 2012, Vernon was announced as the CEO of the grocery business that became the current incarnation of Kraft. [3] After Mondelēz International spun off Kraft on October 1, 2012, Vernon became CEO. [4] At the time of the split, Kraft Foods (which included brands such as Oscar Mayer, Planters, Velveeta, Kool-Aid, Miracle Whip, Capri Sun, A1, Cool Whip and Jell-O) was the fourth-largest food and beverage company in North America, trailing PepsiCo, Nestle and Coca-Cola. [4] His salary jumped by 49% during his first year as CEO to $6.83 million. [5] On December 18, 2014, the company announced that Vernon intended to retire as CEO effective from December 28, and that the company planned to replace him with Chairman John Cahill. [6] [7]

Personal data

Vernon is married with three adult sons.[ citation needed ]

Notes

  1. Wohl, Jessica. "Kraft CEO pulls in more than $9 million in pay in 2013". Chicago Tribune. Retrieved 22 March 2015.
  2. 1 2 3 4 "Kraft Foods Names Tony Vernon President, Kraft Foods North". Bloomberg News. 2009-06-22. Retrieved 2014-12-19.
  3. York, Emily Bryson (2011-12-05). "Kraft chooses leaders for separate companies". Chicago Tribune . Retrieved 2014-12-19.
  4. 1 2 Schultz, E. J. (2012-09-07). "Kraft's New Grocery Company Plans Marketing Boost in Search of 'Renaissance': CEO Tony Vernon Outlines Plans in Advance of Oct. 1 Split". Advertising Age . Retrieved 2014-12-19.
  5. York, Emily Bryson (2013-04-05). "Kraft's Vernon sees pay rise 49% as CEO". Chicago Tribune . Retrieved 2014-12-26.
  6. Gasparro, Annie and Joann S. Lublin (2014-12-18). "Kraft Foods Announces CEO Change: Chairman Cahill Set to Replace Vernon, Spur Changes at Food Company". The Wall Street Journal . Retrieved 2014-12-19.
  7. "W Vernon: Profile". Forbes. Retrieved 2015-01-05.

Related Research Articles

Cadbury British multinational confectionery company

Cadbury, formerly Cadbury's and Cadbury Schweppes, is a British multinational confectionery company wholly owned by Mondelez International since 2010. It is the second largest confectionery brand in the world after Mars. Cadbury is internationally headquartered in Uxbridge, west London, and operates in more than 50 countries worldwide. It is known for its Dairy Milk chocolate, the Creme Egg and Roses selection box, and many other confectionery products. One of the best-known British brands, in 2013 The Daily Telegraph named Cadbury among Britain's most successful exports.

Nabisco American snack company

Nabisco is an American manufacturer of cookies and snacks headquartered in East Hanover, New Jersey. The company is a subsidiary of Illinois-based Mondelēz International.

Kraft Foods

Kraft Foods is an American food manufacturing and processing conglomerate headquartered in Chicago, Illinois, part of Kraft Heinz. On July 2, 2015, Kraft completed its merger with Heinz, arranged by Heinz owners Berkshire Hathaway and 3G Capital, creating the fifth-largest food and beverage company in the world, Kraft Heinz Company.

SuperValu, Inc. is an American wholesaler and retailer of grocery products. The company, headquartered in the Minneapolis suburb of Eden Prairie, Minnesota, has been in business since 1926. It is a wholly owned subsidiary of UNFI.

Milka German chocolate brand

Milka is a Swiss brand of chocolate confection which originated in Switzerland in 1901 and has been manufactured internationally by the US confectionery company Mondelēz International since 1990. For more than 100 years, Milka has been primarily produced in Lörrach, Germany, producing about 140,000 tonnes of chocolate in 2012. It is sold in bars and a number of novelty shapes for Easter and Christmas. Milka also produces chocolate-covered cookies and biscuits. Milka brand’s name is derived from a portmanteau of the product’s two main ingredients: “MILch (milk) and KAkao .”

Miracle Whip

Miracle Whip is a sauce condiment manufactured by Kraft Foods and sold throughout the United States and Canada. It is also sold by Mondelēz International as Miracle Whip throughout Germany. It was developed as a less expensive alternative to mayonnaise in 1933.

The Consumer Brands Association, formerly the Grocery Manufacturers Association (GMA), is a trade association of the food industry. It represents the world's largest branded food, beverage and consumer product companies.

Pinnacle Foods

Pinnacle Foods, Inc., is a packaged foods company headquartered in Parsippany, New Jersey, that specializes in shelf-stable and frozen foods. The company became a subsidiary of Conagra Brands on October 26, 2018.

Kraft Foods Inc.

Kraft Foods Inc. was a multinational confectionery, food and beverage conglomerate. It marketed many brands in more than 170 countries. 12 of its brands annually earned more than $1 billion worldwide: Cadbury, Jacobs, Kraft, LU, Maxwell House, Milka, Nabisco, Oreo, Oscar Mayer, Philadelphia, Trident, and Tang. Forty of its brands were at least a century old.

Roundy's is a subsidiary of Kroger, which operates 145 supermarkets and 99 pharmacies throughout the states of Wisconsin and Illinois. Based on fiscal year 2012 sales, Roundy's was the 37th largest grocery store chain and the 89th largest retailer in the United States. As of December 2015, Roundy's became a subsidiary of Kroger of Cincinnati, Ohio.

Nelson Peltz is an American billionaire businessman and investor. He is a founding partner, together with Peter W. May and Edward P. Garden, of Trian Fund Management, an alternative investment management fund based in New York. He is non-executive chairman of Wendy's Company, and a director of Legg Mason, Procter & Gamble, Sysco, and The Madison Square Garden Company. He is a former director of H.J. Heinz Company, Mondelēz International, and Ingersoll Rand and a former CEO of Triangle Industries.

Irene Rosenfeld American executive and CEO

Irene Blecker Rosenfeld was the chairman and chief executive officer (CEO) of Mondelēz International. Rosenfeld's career began at Dancer Fitzgerald Sample, a New York City advertising agency. She later joined General Foods consumer research, and then led Frito-Lay as CEO and chairwoman.

Sanjay Khosla is a senior fellow, Kellogg School of Management, Northwestern University, USA and a senior advisor, Boston Consulting Group.

Mondelez International

Mondelez International, Inc., often stylized as Mondelēz, is an American multinational confectionery, food, holding and beverage and snack food company consisting of former Kraft Foods Inc brands.

Belvita brand

Belvita, sometimes stylized as belVita or BelVita, is a brand of breakfast biscuit sold originally by Kraft Foods and later by Mondelēz International, founded in 1891 a U.S. company created from the global snacking and food brands of Kraft Foods. The biscuits were first marketed in Europe, and were introduced to the United States market in 2012.

John T. Cahill is an American businessman.

Robert Anthony "Bob" Mariano is an American businessman, formerly CEO and chairman of Milwaukee, Wisconsin-based supermarket chain Roundy's.

Jacobs Douwe Egberts

Jacobs Douwe Egberts is a Dutch company that owns numerous beverage brands. It was formed in 2015 following the merger of the coffee division of Mondelez International with Douwe Egberts.

Mark A. Clouse is a business executive in the food industry. Since January 22, 2019, he has been the President and CEO of Campbell Soup Company. Prior to that, he was the CEO of Pinnacle Foods from May 2016 through its acquisition by Conagra in late October 2018. He had previously spent two decades at Kraft Foods and its successor Mondelez International, where he held a variety of leadership positions.