Kraft Heinz announced on Monday that Bernardo Hees, 49, will step down on July 1 after a string of troubling developments in recent months. Last quarter, it took a $15.4 billion write-down, slashed its dividend and disclosed a subpoena from the U.S. Securities and Exchange Commission associated with an investigation into certain accounting policies.
His sucessor at Kraft Heinz will be Miguel Patricio, a longtime executive of Anheuser-Busch InBev NV, the world’s largest brewer. It’s yet another entity that has a long history with 3G and is known for adopting a similar approach to cutting costs and making deals. In fact, AB InBev is “still lumbering under” the debt from its $123 billion takeover of SABMiller in 2016, my colleague Andrea Felsted has written.