New President of Kraft Foods

Kraft Foods Inc (US:KFT) announced yesterday that they have appointed a new president of Kraft Foods North America.

W. Anthony Vernon, 53, will start his new role in mid-August, after current president, Rick Searer, retires from nearly 30 years of service.

If you're wondering about Vernon's credentials, they are impressive. At present, he works for a private equity firm, Ripplewood Holdings.

Prior to that, Vernon led many of Johnson & Johnson's large consumer brands, such as Tylenol, Motrin, Pepcid, and Splenda, for more than 20 years, according to Food Business News.

We've seen what he can do with with a new sweetener like Splenda in a competitive market. Now he has an opportunity to lead some of Kraft's big products.

(But what more really needs to be done for Kraft Macaroni & Cheese? It is boxed perfection!)

When he assumes his new responsibility at Kraft, he will report to Irene Rosenfeld, chairman and CEO.

In the words of the Rosenfeld,

"Tony has an impressive history of building and sustaining iconic consumer brands. His strong track record of growth through consumer-driven innovation, world-class marketing and strong retail relationships will help to further accelerate our business performance."

Best wishes to Mr. Vernon in his new suit.

According to Forbes, shares of Kraft fell 16 cents on Monday, closing at $25.25.