Kraft Foods has elected Ajay Banga to its board of directors.
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Banga, 47, is chairman and CEO of Citigroup’s Global Consumer Group International businesses, a position he has held since August 2005. Previously he has served as an executive vice president of Citigroup’s Global Consumer Group and president of Citigroup’s Retail Banking North America.
Banga has previously worked for Nestlé, where he spent the next 13 years in a variety of roles spanning sales, marketing and general management. He later joined PepsiCo in its Restaurants.
“I am very pleased to welcome Ajay Banga to our board of directors,” said Kraft chairman Louis Camilleri. “His expertise in global business and the consumer packaged goods industry will be of significant value to Kraft as we work to accelerate our growth.”
The addition of Banga increases the number of directors on the company’s board from nine to ten, six of whom are not employees of either Kraft or its parent the Altria Group.
It is expected that Altria will announce a spin-off of Kraft on Wednesday (31 January) when it delivers its financial results.
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