Kraft Names James Kehoe CFO

Kraft Foods Group Inc. has named James Kehoe EVP and CFO, in which he'll lead all finance operations for the Northfield, Ill.-based company. Kehoe succeeds Teri List-Stoll, who Kraft announced on Friday was stepping down effective Feb. 28.

Kehoe rejoins Kraft, where he's served for more than 20 years, from branded basic family apparel company Gildan Activewear Inc., where he served as EVP and chief financial and administrative officer.

Prior to Gildan, Kehoe served with Kraft as SVP, corporate finance from 2012-2013, and with Mondelez International beginning in November 2013 as SVP, operating excellence, where he focused his efforts on large-scale transformation initiatives. He joined Kraft in 1988.

"I am pleased to welcome James back to Kraft as CFO," said Chairman and CEO John Cahill, to whom Kehoe will report. "James knows the company inside and out and, throughout his career, has demonstrated strong financial acumen and execution capabilities. I have tremendous confidence in his ability to lead our finance team and take Kraft to a new level as we look to accelerate our pace of change."

Kehoe's appointment is part of a larger executive shake-up at Kraft, which sees George Zoghbi and Chris Kempczinski promoted to COO and EVP of growth initiatives and president of international, respectively.

In addition to List-Stoll leaving the company, other executives to step down later this month include Chuck Davis, EVP of research, development, quality and innovation; and Deanie Elsner, EVP and chief marketing officer. Jane Hilk has been named interim CMO.

Kraft Foods Group is one of North America's largest consumer packaged food and beverage companies, with annual revenues of more than $18 billion.