Mondelez International’s chief growth officer, Tim Cofer, is to take charge of the snacks group’s North American business on an interim basis after the departure from the Oreo owner of Roberto Marques.
The US-based company did not provide any reasons for the departure of Marques, who has led its operations in North America for two years.
In 2016, Mondelez’s business in North America generated net revenue of US$6.96bn, down 0.2% on a reported basis. On an organic basis, net revenue increased 1.2% amid a 1.4 percentage point benefit from volume and mix. Mondelez’s total revenue stood at $25.92bn. The segment operating income from North America was $1.08bn, compared to $1.11bn in 2015.
In a statement, Mondelez chairman and CEO Irene Rosenfeld said: “Over the past two years under Roberto Marques’ leadership, the North American team has been executing a large transformation, which has resulted in significant progress on our margin agenda, while stepping up our participation in growth areas such as well-being, broader channel penetration, especially in e-commerce, as well as entering the US chocolate market. We appreciate Roberto’s many contributions and wish him well in his future endeavours.”
Cofer became Mondelez’s chief growth officer in late 2015, moving from the role of president of Mondelez’s business in Asia Pacific and of its combined eastern Europe, Middle East and Africa division.
Last week, The Wall Street Journal claimed Mondelez had required a recruitment firm to look for successors to Rosenfeld. The newspaper touted Cofer as one of the possible internal candidates to take the top job at the Cadbury owner.
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By GlobalDataAnnouncing Cofer’s additional responsibilities, Rosenfeld said: “Tim Cofer is our most experienced commercial leader with deep region leadership experience across both developed and emerging markets. We have considerable competitive advantages in North America, including our strong margin profile, iconic brands, solid innovation pipeline and strong direct-store-delivery muscle. We are very fortunate to have an experienced leader like Tim to take on the additional responsibility of leading North America, while also continuing to architect our global growth agenda.”
Cofer said: “While mobilising our enterprise growth agenda remains a top priority for both me and the company, I’m looking forward to leading the North America business on an interim basis and working with the team to capitalise on the potential of our business in the US and Canada.”