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June 10, 2013

US: 3G Capital exec Basilio named Heinz CFO

Private-equity firm 3G Capital, part owner of US food group Heinz, has named one of its partners as the ketchup maker's new CFO.

By Dean Best

Private-equity firm 3G Capital, part owner of US food group Heinz, has named one of its partners as the ketchup maker’s new CFO.

Paul Basilio has replaced Art Winkleblack, Heinz’s finance chief since 2002. The appointment was announced on Friday (7 June) as it emerged 3G Capital’s takeover of Heinz – alongside Warren Buffett’s Berkshire Hathaway investment fund – had been finalised after receiving regulatory approvals. Basilio’s career includes stints as COO and CFO of Brazil-based logistics group America Latina Logistica.

As well as a new CFO, Heinz also has a new chief executive. Bernardo Hees’ appointment as CEO became effective on Friday. Hees has links to 3G Capital from his appointment as the boss of Burger King after the private-equity firm bought the fast-food chain in 2010.

Bill Johnson, who has spent the last 15 years as Heinz CEO, will be a part-time advisor to Hees.

Click here for our analysis of Hees’ appointment, published in April.

And click here for coverage of the 3G/Berkshire acquisition of Heinz, when the US$28bn deal was announced in February.

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