date:Dec 19, 2013
Weve made significant progress in creating a cash-focused, return-oriented company, Kraft Foods Chief Executive Officer Tony Vernon said in the statement. The announcement reflects our commitment to disciplined capital management and the desire to balance investments in our businesses to generate profitable growth while at the same time returning capital to shareholders.
Kraft Foods was created last year when the company formerly known as Kraft Foods Inc. changed its name to Mondelez Internati