Kraft Foods Group has appointed Proctor & Gamble executive Teri List-Stoll to succeed Timothy McLevish as CFO in the first quarter of 2014.

For now, List-Stoll will act as Kraft’s senior vice president of finance, where she will oversee the company’s business unit finance teams and work alongside McLevish for the transition period.

List-Stoll has worked with P&G for around 20 years were she has held a number of finance leadership roles in business unit management, supply chain, sales, accounting, and financial planning and analysis. Most recently, she was senior vice president and treasurer.

“Teri’s financial expertise and deep experience at a consumer- and brand-focused company make her the right choice for our next CFO,” said Kraft CEO Tony Vernon. “We’ll benefit from her deep commitment to operational excellence and her track record of innovation in company-wide productivity initiatives.”

A reason was not given for McLevish’s departure or whether he is joining another company. He joined Kraft as CFO and executive vice president in 2007 and led the office that oversaw the company’s 2012 split into Kraft Foods Group and Mondelez International.

Of his departure, he said: “I’ve thoroughly enjoyed helping Kraft navigate some of the most exciting changes in our history. I am confident Teri is the right person to continue our journey to deliver the cost savings and focused approach to brand investments that will fuel our future growth.”