Kraft Heinz (KHC, Financial), a major player in the packaged foods industry, experienced a decline in its stock price. The company revealed its ongoing evaluation of potential mergers and acquisitions to boost business growth and announced changes to its board of directors.
CEO Carlos Abrams-Rivera stated that Kraft Heinz, known for its Heinz ketchup and Kraft macaroni and cheese, has been assessing strategic transactions to unlock shareholder value. The company emphasized that while these efforts continue, there is no guarantee of any resulting deals or specific outcomes.
Additionally, Kraft Heinz reported that Berkshire Hathaway (BRK.A) informed the company of its decision to relinquish its two board seats. The resignations of Timothy Kenesey and Alicia Knapp align with Berkshire's approach to non-controlling investments and are not due to any disagreements with the management or board.
On Wednesday, Kraft Heinz's stock fell by 1%, following a 15-year low reached last week, with an approximate 10% decline since 2025.
