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Kraft Heinz Co (KHC.OQ)

KHC.OQ on NASDAQ Stock Exchange Global Select Market

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Latest Key Developments (Source: Significant Developments)

Kraft Heinz Says Paulo Basilio To Assume New Role Of Chief Business Planning And Development Officer
Wednesday, 26 Jun 2019 

June 25 (Reuters) - Kraft Heinz Co ::KRAFT HEINZ - DECIDED TO ACCELERATE MIGUEL PATRICIO'S START DATE TO JUNE 25 DUE TO UPCOMING JULY 4 HOLIDAY IN U.S..KRAFT HEINZ CO - PATRICIO WILL ASSUME ROLE OF U.S. ZONE PRESIDENT ON AN INTERIM BASIS.KRAFT HEINZ CO - RAFAEL OLIVEIRA WILL ASSUME NEW ROLE OF INTERNATIONAL ZONE PRESIDENT OF KRAFT HEINZ EFFECTIVE JULY 1.KRAFT HEINZ - PAULO BASILIO, WHO SERVES AS U.S. ZONE PRESIDENT OF KRAFT HEINZ, WILL ASSUME NEW ROLE OF CHIEF BUSINESS PLANNING AND DEVELOPMENT OFFICER.KRAFT HEINZ CO - BOARD APPROVED A CASH RETENTION BONUS PLAN.KRAFT HEINZ CO - PATRICIO IS NOT ENTITLED TO A RETENTION BONUS..  Full Article

Kraft Heinz Files Form 10-K with U.S. SEC
Saturday, 8 Jun 2019 

June 7 (Reuters) - Kraft Heinz Co ::KRAFT HEINZ CO - FILED FORM 10-K WITH U.S. SEC.KRAFT HEINZ CO - FINDINGS FROM INTERNAL INVESTIGATION DID NOT IDENTIFY ANY MISCONDUCT BY ANY MEMBER OF SENIOR MANAGEMENT TEAM.KRAFT HEINZ - INTERNAL INVESTIGATION IDENTIFIED THAT MULTIPLE EMPLOYEES IN THE PROCUREMENT AREA ENGAGED IN MISCONDUCT.KRAFT HEINZ - DO NOT BELIEVE MISSTATEMENTS ARE QUANTITATIVELY MATERIAL TO ANY PERIOD PRESENTED IN PRIOR FINANCIAL STATEMENTS..KRAFT HEINZ - MISSTATEMENTS MAINLY RELATED TO WRONG TIMING OF WHEN SOME COST, REBATE ELEMENTS RELATED TO SUPPLIER CONTRACTS WERE INITIALLY RECOGNIZED.KRAFT HEINZ -ADJUSTMENTS RESULTED IN UNDERSTATEMENT OF COST OF PRODUCTS SOLD OF $208 MILLION, INCLUDES $175 MILLION RELATING TO PERIODS THROUGH SEPT. 29 2018.KRAFT HEINZ CO - MANAGEMENT IDENTIFIED MATERIAL WEAKNESSES IN INTERNAL CONTROL OVER FINANCIAL REPORTING BASED ON ASSESSMENT.KRAFT HEINZ - MATERIAL WEAKNESSES RESULTED IN CONCLUSION BY CEO, CFO THAT CO'S DISCLOSURE CONTROLS & PROCEDURES WERE NOT EFFECTIVE AS OF DEC 29, 2018.KRAFT HEINZ - IDENTIFIED FURTHER MISSTATEMENTS, UNABLE TO CONCLUDE IF THEY RESULTED FROM MISCONDUCT BY MULTIPLE EMPLOYEES IN PROCUREMENT AREA.KRAFT HEINZ-"IT IS OUR UNDERSTANDING" THAT U.S. ATTORNEY'S OFFICE FOR NORTHERN DISTRICT OF ILLINOIS IS REVIEWING MATTER REGARDING SUBPOENA FROM SEC IN OCT. 2018.KRAFT HEINZ - U.S. ATTORNEY'S OFFICE FOR NORTHERN DISTRICT OF ILLINOIS IS WORKING WITH THE SEC & RECEIVING MATERIALS FROM IT.  Full Article

Kraft Heinz Co Says Findings From Internal Investigation Did Not Identify Misconduct By Any Member Of Senior Management Team
Saturday, 8 Jun 2019 

June 7 (Reuters) - Kraft Heinz Co ::KRAFT HEINZ CO - FILED FORM 10-K WITH U.S. SEC.KRAFT HEINZ CO - FINDINGS FROM INTERNAL INVESTIGATION DID NOT IDENTIFY ANY MISCONDUCT BY ANY MEMBER OF SENIOR MANAGEMENT TEAM.KRAFT HEINZ - MISSTATEMENTS MAINLY RELATED TO WRONG TIMING OF WHEN SOME COST, REBATE ELEMENTS RELATED TO SUPPLIER CONTRACTS WERE INITIALLY RECOGNIZED.KRAFT HEINZ CO - MANAGEMENT IDENTIFIED MATERIAL WEAKNESSES IN INTERNAL CONTROL OVER FINANCIAL REPORTING BASED ON ASSESSMENT.KRAFT HEINZ - MATERIAL WEAKNESSES RESULTED IN CONCLUSION BY CEO, CFO THAT CO'S DISCLOSURE CONTROLS & PROCEDURES WERE NOT EFFECTIVE AS OF DEC 29, 2018.KRAFT HEINZ - INTERNAL INVESTIGATION IDENTIFIED THAT MULTIPLE EMPLOYEES IN THE PROCUREMENT AREA ENGAGED IN MISCONDUCT.KRAFT HEINZ - IDENTIFIED FURTHER MISSTATEMENTS, UNABLE TO CONCLUDE IF THEY RESULTED FROM MISCONDUCT BY MULTIPLE EMPLOYEES IN PROCUREMENT AREA.KRAFT HEINZ -ADJUSTMENTS RESULTED IN UNDERSTATEMENT OF COST OF PRODUCTS SOLD OF $208 MILLION, INCLUDES $175 MILLION RELATING TO PERIODS THROUGH SEPT. 29 2018.KRAFT HEINZ - DO NOT BELIEVE MISSTATEMENTS ARE QUANTITATIVELY MATERIAL TO ANY PERIOD PRESENTED IN PRIOR FINANCIAL STATEMENTS..  Full Article

Kraft Heinz Co Restates Audited Consolidated Financial Statements For Years Ended December 30, 2017 And December 31, 2016
Saturday, 8 Jun 2019 

June 7 (Reuters) - Kraft Heinz Co ::KRAFT HEINZ CO - RESTATED AUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR YEARS ENDED DECEMBER 30, 2017 AND DECEMBER 31, 2016.KRAFT HEINZ CO - MARCEL HERRMANN TELLES DECIDED TO RETIRE FROM KRAFT HEINZ BOARD EFFECTIVE JUNE 12, 2019.KRAFT HEINZ CO - DANIEL SCHWARTZ WILL NOT STAND FOR ELECTION AT 2019 ANNUAL MEETING OF STOCKHOLDERS.KRAFT HEINZ CO - BOARD ELECTED JOAO M. CASTRO-NEVES AS A MEMBER OF BOARD.KRAFT HEINZ CO - ON JUNE 5, 2019, COMPENSATION COMMITTEE OF BOARD APPROVED COMPENSATION FOR MIGUEL PATRICIO IN HIS CAPACITY AS CHIEF EXECUTIVE OFFICER.KRAFT HEINZ CO - PURSUANT TO TERMS APPROVED BY COMPENSATION COMMITTEE, PATRICIO WILL RECEIVE AN ANNUAL BASE SALARY OF $1 MILLION.KRAFT HEINZ - PATRICIO WILL RECEIVE A ONE-TIME LUMP SUM PAYMENT OF $1 MILLION.KRAFT HEINZ - PATRICIO WILL HAVE TO REPAY ONE-TIME LUMP SUM PAYMENT OF $1 MILLION TO CO IF HE RESIGNS/IS TERMINATED PRIOR TO THIRD ANNIVERSARY OF HIRE DATE.KRAFT HEINZ CO - PATRICIO HAS COMMITTED TO PURCHASE $20 MILLION OF COMMON STOCK, WHICH PATRICIO HAS AGREED TO HOLD FOUR YEARS FROM DATE OF PURCHASE.KRAFT HEINZ - IN LIGHT OF PATRICIO'S COMMITTMENT TO PURCHASE $20 MILLION OF STOCK, CO WILL PROVIDE PATRICIO WITH AN AWARD OF RSUS HAVING VALUE OF $15 MILLION.KRAFT HEINZ CO - ON JUNE 5, COMPENSATION COMMITTEE OF BOARD APPROVED SEVERANCE TERMS FOR BERNARDO HEES.KRAFT HEINZ CO - SEVERANCE COMPENSATION FOR BERNARDO HEES INCLUDES A SEVERANCE PAYMENT EQUAL TO 12 MONTHS OF BASE SALARY, TOTALING $1 MILLION.  Full Article

Kraft Heinz Co Says Company Continues To Cooperate With SEC In Its Investigation
Saturday, 8 Jun 2019 

June 7 (Reuters) - Kraft Heinz Co ::KRAFT HEINZ FILES ANNUAL REPORT FOR FISCAL YEAR 2018.KRAFT HEINZ CO SAYS CURRENTLY EXPECTS TO FILE ITS QUARTERLY REPORT ON FORM 10-Q FOR FISCAL QUARTER ENDED MARCH 30, 2019 ON OR BEFORE JULY 31, 2019.KRAFT HEINZ CO SAYS INTERNAL INVESTIGATION INTO ITS PROCUREMENT AREA AND ASSESSMENT OF INTERNAL CONTROLS IS NOW COMPLETE.KRAFT HEINZ CO SAYS COMPANY CONTINUES TO COOPERATE WITH SEC IN ITS INVESTIGATION.  Full Article

The Kraft Heinz Company Declares Regular Quarterly Dividend Of $0.40 Per Share
Tuesday, 21 May 2019 

May 21 (Reuters) - Kraft Heinz Co ::THE KRAFT HEINZ COMPANY DECLARES REGULAR QUARTERLY DIVIDEND OF $0.40 PER SHARE.  Full Article

Kraft Heinz Files For Non-Timely 10-Q With U.S. SEC
Saturday, 11 May 2019 

May 10 (Reuters) - Kraft Heinz Co ::KRAFT HEINZ FILES FOR NON-TIMELY 10-Q WITH U.S. SEC.  Full Article

Kraft Heinz Says Entered Into A Waiver And Consent No. 2 With Respect To Certain Credit Agreement, Dated As Of July 6, 2015
Saturday, 11 May 2019 

May 10 (Reuters) - Kraft Heinz Co ::KRAFT HEINZ CO - ENTERED INTO A WAIVER AND CONSENT NO. 2 WITH RESPECT TO CERTAIN CREDIT AGREEMENT, DATED AS OF JULY 6, 2015.KRAFT HEINZ CO - CREDIT AGREEMENT PROVIDES FOR A SENIOR UNSECURED REVOLVING CREDIT FACILITY, WHICH MATURES ON JULY 6, 2023.KRAFT HEINZ CO - AS OF BOTH MARCH 30, 2019 AND MAY 10, 2019, THERE WERE NO OUTSTANDING BORROWINGS UNDER REVOLVING CREDIT FACILITY..KRAFT HEINZ - LENDERS, AGENT GRANTED ONE-TIME TEMPORARY WAIVER OF COMPLIANCE BY COMPANY WITH RESPECT TO FURNISHING OF CERTAIN FINANCIAL STATEMENTS.KRAFT HEINZ CO - REQUIRED TO PROVIDE 2018 ANNUAL FINANCIAL STATEMENTS TO LENDERS NO LATER THAN JUNE 28, 2019.KRAFT HEINZ CO - REQUIRED TO PROVIDE 2019 Q1 FINANCIAL STATEMENTS TO LENDERS NO LATER THAN JULY 31, 2019..  Full Article

Kraft Heinz Delays 10-Q Filing
Saturday, 11 May 2019 

May 10 (Reuters) - Kraft Heinz Co ::KRAFT HEINZ DELAYS 10-Q FILING.KRAFT HEINZ - ANTICIPATES IDENTIFYING AND REPORTING TWO OR MORE MATERIAL WEAKNESSES IN INTERNAL CONTROLS OVER FINANCIAL REPORTING IN ITS ANNUAL REPORT.KRAFT HEINZ - MATERIAL WEAKNESSES WERE NOT REMEDIATED AS OF MARCH 30, 2019. - SEC FILING.KRAFT HEINZ - SEES REPORTING TWO OR MORE MATERIAL WEAKNESSES IN ITS INTERNAL CONTROLS OVER FINANCIAL REPORTING IN FORM 10-K FOR FY ENDED DEC 29, 2018.  Full Article

Kraft Heinz Is "Taking Action To Improve Our Policies And Procedures And Will Continue To Strengthen Our Internal Financial Controls" - Spokesman
Monday, 6 May 2019 

May 6 (Reuters) - Kraft Heinz Co ::KRAFT HEINZ IS "TAKING ACTION TO IMPROVE OUR POLICIES AND PROCEDURES AND WILL CONTINUE TO STRENGTHEN OUR INTERNAL FINANCIAL CONTROLS" - SPOKESMAN.KRAFT HEINZ'S INTERNAL INVESTIGATION INTO SOME DISCREPANCIES "IS NOW SUBSTANTIALLY COMPLETE" - SPOKESMAN.KRAFT HEINZ'S FINDINGS FROM INTERNAL INVESTIGATION INTO SOME DISCREPANCIES "DID NOT IDENTIFY ANY MISCONDUCT BY ANY MEMBER OF THE SENIOR MANAGEMENT TEAM" - SPOKESMAN.  Full Article

N.Y.C. pension funds allege ethics, contract breaches by Bernstein Litowitz, Kessler Topaz

New York City employees’ pension funds are accusing Bernstein Litowitz Berger & Grossmann and Kessler Topaz Meltzer & Check of breaching their ethical and contractual obligations to the funds in a lead counsel fight in a securities class action against Kraft Heinz.