28.03.2006 12:50:00
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Heinz Announces New Geographic Assignments for Two EVPs; Joe Jimenez to EVP, President and CEO for Asia Pacific/ROW; Scott O'Hara to EVP, President and CEO of Heinz Europe
Joseph Jimenez (46) will become Executive Vice President,President and CEO for Heinz's operations in Asia Pacific and Rest ofWorld, with responsibility for business units in Asia, Australia, NewZealand, Latin America, Africa and the Middle East.
Mr. Jimenez has been President and CEO of Heinz Europe since 2002.Most recently, he led the successful initiative to focus Heinz Europeon the three core categories of Ketchup & Sauces, Meals & Snacks, andInfant Nutrition. This strategy involved the company's largest-everacquisition, that of HP Foods with the HP(R) and Lea & Perrins(R)brands and a license for the Amoy(R) brand. Additionally, hespearheaded the acquisition of Petrosoyuz, one of Russia's leadingketchup and sauces companies, and oversaw the successful divesture ofHeinz's European Seafood business for approximately US$500 million.
Additionally, Christopher Warmoth (47) is promoted into the newlycreated position of Senior Vice President for Heinz Asia. Mr. Warmoth,who will relocate to Shanghai, assumes responsibility for Heinzoperations in China, Indonesia, India and Japan. Mr. Warmoth willreport to Joe Jimenez. He began his Heinz career in 2003, afterserving as Director of Central European & Middle East markets for TheCoca-Cola Company. In previous senior management roles at Proctor &Gamble Co., Mr. Warmoth ran businesses in Europe, the Middle East andthe United States.
C. Scott O'Hara, currently Executive Vice President (EVP) forHeinz Asia Pacific and Canada, will become EVP, President and CEO forHeinz Europe.
Mr. O'Hara (44) joined Heinz on January 1, 2006, after holdingexecutive positions in Europe with Gillette Group International formore than five years. He had served as Gillette's Senior VicePresident - Europe, managing units with $3.7 billion in revenue andachieving double-digit profit increases in the wake of significantproduct innovation. Prior to that, Mr. O'Hara was General Manager ofGillette's UK & Netherlands businesses.
As part of Heinz's continued drive to leverage geographicsynergies, Heinz Canada now will report to David C. Moran (48), EVP,President and CEO for Heinz North American Consumer Products.
Michael D. Milone (49), will continue as Senior Vice President -Heinz Rest of World (which includes Latin America, Africa and theMiddle East) and will add responsibility for Heinz Australia and NewZealand. He will report to Mr. Jimenez.
Commenting on the executive assignments, Heinz Chairman, Presidentand CEO William R. Johnson said: "With the sustained success of ourNorth American businesses, the repositioning of Heinz Europe, andfaster growth in the Asia Pacific markets, this strong leadership teamwill drive the Heinz Growth Strategy to increase sales and profits inthe three categories of Ketchup & Sauces, Meals & Snacks, and InfantNutrition."
SAFE HARBOR PROVISIONS FOR FORWARD-LOOKING STATEMENTS:
This press release contains forward-looking statements within themeaning of the "safe harbor" provisions of the Private SecuritiesLitigation Reform Act of 1995. These forward-looking statementsreflect management's view of future events and financial performance.These statements are subject to risks, uncertainties, assumptions andother important factors, many of which may be beyond Heinz's controland could cause actual results to differ materially from thoseexpressed or implied in these forward-looking statements.Uncertainties contained in such statements include, but are notlimited to, sales, earnings, and volume growth, general economic,political, and industry conditions, competitive conditions, whichaffect, among other things, customer preferences and the pricing ofproducts, production, energy and raw material costs, the ability toidentify and anticipate and respond through innovation to consumertrends, the need for product recalls, the ability to maintainfavorable supplier relationships, achieving cost savings and grossmargins objectives, currency valuations and interest ratefluctuations, change in credit ratings, the ability to identify andcomplete and the timing, pricing and success of acquisitions, jointventures, divestitures and other strategic initiatives, approval ofacquisitions and divestitures by competition authorities, andsatisfaction of other legal requirements, the results of shareholderproposals, the success of Heinz's growth and innovation strategy andthe ability to limit disruptions to the business resulting from theemphasis on three core categories and potential divestitures, theability to effectively integrate acquired businesses, new product andpackaging innovations, product mix, the effectiveness of advertising,marketing, and promotional programs, supply chain efficiency and cashflow initiatives, risks inherent in litigation, including taxlitigation, and international operations, particularly the performanceof business in hyperinflationary environments, changes in estimates incritical accounting judgments and other laws and regulations,including tax laws, the success of tax planning strategies, thepossibility of increased pension expense and contributions and otherpeople-related costs, the possibility of an impairment in Heinz'sinvestments, and other factors described in "Cautionary StatementRelevant to Forward-Looking Information in the Company's Form 10-K forthe fiscal year ended April 27, 2005. The Company undertakes noobligation to publicly update or revise any forward-lookingstatements, whether as a result of new information, future events orotherwise, except as required by the securities laws.
ABOUT HEINZ: H.J. Heinz Company, offering "Good Food, EveryDay(TM)," is one of the world's leading marketers and producers ofbranded foods in ketchup, condiments, sauces, meals, soups, seafood,snacks, and infant foods. Heinz satisfies hungry consumers in everyoutlet, from supermarkets to restaurants to convenience stores andkiosks. Heinz is a global family of leading brands, including Heinz(R)Ketchup, sauces, soups, beans, pasta and infant foods (representingnearly one-third of total sales), HP(R), Lea & Perrins(R), Ore-Ida(R)french fries and roasted potatoes, and Smart Ones(R) meals, andPlasmon(R) baby food. Heinz has number-one or number-two brands in itsthree categories of Ketchup & Sauces, Meals & Snacks, and InfantNutrition. Information on Heinz is available at www.heinz.com/news.
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