Kraft Foods Inc. (NYSE: KFT), a global leader in branded foods and beverages, yesterday announced the election of W. James Farrell, 59, Chairman and Chief Executive Officer of Illinois Tool Works Inc. (NYSE:ITW), based in Glenview, IL, to its Board of Directors.
“Jim’s many talents include his solid business acumen and global management expertise, and we welcome his future contributions as part of Kraft’s Board,” said Geoffrey C. Bible, Chairman of the Board of Directors of Kraft Foods Inc.
Farrell was elected to his current position at ITW in May, 1996. Previously he became President and CEO in 1995 and prior to that, was Executive Vice President of the company. After joining ITW in 1965, Farrell has been involved in nearly every aspect of the company, and since 1972 has held numerous management positions. ITW is a multinational manufacturer of highly engineered fasteners, components, assemblies and systems. The company had $10 billion in 2000 revenues, with operations in 43 countries and more than 55,300 employees.
Farrell serves on the boards of Allstate Insurance Company; Federal Reserve Bank of Chicago; Sears, Roebuck and Company; and United Airlines. In addition, he is a member of The Business Council, Illinois Roundtable, Mid-America Committee and New York Stock Exchange Advisory Committee. He is a Director of the Chicago Club and Vice Chairman and Director of the Economic Club of Chicago.
Farrell’s civic and cultural affiliations include Trustee of the Chicago Symphony Orchestra; Chairman of the Board of Trustees for the Museum of Science and Industry; Trustee of Rush Presbyterian-St. Luke’s Medical Center; and Director of Lyric Opera of Chicago.
His educational associations include Director of the Chicago Public Library Foundation, Director of Junior Achievement of Chicago, Trustee of Northwestern University and Advisory Board of the J.L. Kellogg Graduate School of Management. Farrell graduated from the University of Detroit with a Bachelor’s degree in electrical engineering.
Kraft Foods markets the world’s favorite food and beverage brands — including Kraft cheese, Jacobs and Maxwell House coffees, Nabisco cookies and crackers, Philadelphia cream cheese, Oscar Mayer meats, Post cereals, and Milka chocolates – in more than 140 countries.
For more information, please visit our website at www.kraft.com