Beverly Hills 2/4/2010 1:56:04 AM
Cadbury CEO, CFO and Chairman Leaving When Kraft Takes Over
Finance World News Update by EQUITIES Magazine
Cadbury Plc. Chief Executive Officer Todd Stitzer and Chairman Roger Carr will leave the company after Kraft Foods Inc. takes over.
Chief Financial Officer Andrew Bonfield will also stand down, announced Cadbury.
Both Carr and Stitzer took a firm stance against Kraft’s takeover plan. After the U.S. food giant raised its offer to 11.7 billion pounds ($18.6 billion), shareholders accepted its offer.
The effective date of the three resignations is still to be determined, Cadbury said. Stitzer “will remain at Cadbury for some time to help with the integration with Kraft,” Cadbury spokesman Trevor Datson said by telephone.
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