Kraft Foods is forging ahead with attempts to organize its sprawling product assortment. The company announced that it has created a pair of standalone units within its grocery segment -- meals and desserts, and enhancers and snack nuts. The change will be effective July 1.
The two new divisions will headed by their own presidents, respectively Michael Osanloo and Jane Hilk. Both will report directly to CEO Tony Vernon.
The company will break out the financials for both units as individual segments at the end of its Q3 2013. Within that quarter, it will also make historical results available for each.
In a press release, Kraft said that with the creation of the new divisions it "will be able to place even greater focus on brand-building while reducing the complexity of managing a portfolio with many distinct brands and product categories."
The article Kraft Crafts a Pair of New Divisions originally appeared on Fool.com.Fool contributor Eric Volkman has no position in Kraft Foods. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.