Kraft Heinz Chief Marketing Officer to Leave Company, CNBC Says

(Bloomberg) -- Kraft Heinz chief marketing officer Eduardo Luz is leaving the company, CNBC reports, citing a company spokesperson. The departure comes as Kraft Heinz announced last month CEO Bernardo Hees will leave the company, to be succeeded by Miguel Patricio.

Kraft Heinz, which is now over two months late in publishing its 10-K regulatory filing, saw shares fall to their lowest levels since March 7 this past week. Kraft shares are down 24 percent this year.

Earlier today Berkshire Hathaway was forced to exclude the contribution from its stake in Kraft Heinz from its quarterly results. Analysts have speculated that the delay in Kraft’s 10-K filing is due to the SEC investigation which the company announced in February.

Adam Butler, Kraft Heinz’s president of beverages, snacks and desserts will take over Luz’s responsibilities on an interim basis. Luz will leave the company at the end of the month.

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