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PITTSBURGH - The H. J. Heinz Company on Wednesday announced that Arthur Winkleblack will become executive vice president and chief financial officer, effective Jan. 7, 2002. Winkleblack has held a succession of senior management roles in strategic planning and finance at PepsiCo, Allied Signal, Six Flags Entertainment and, most recently, Indigo Capital, which is an investor group focused on growth-oriented businesses in the U.S. and Europe.
Paul Renne, executive vice president and chief financial officer and a member of the board, has announced his retirement after 28 years with Heinz. Renne, who has been CFO since 1996, will retire at the end of the calendar year, when he will also retire from the board of directors. Renne has agreed to become special advisor on finance until the end of the fiscal year (May 1, 2002), assisting with the transition and will lead the implementation of a number of margin improvement projects.
"Paul has been a valued member of Heinz senior management for many years and has had a distinguished career. He has always observed the highest ethical and business standards in his commitment to the company," said Heinz chairman, president and CEO William R. Johnson.
In welcoming Winkleblack, Johnson said, "Art has a superb track record in financial and strategic management and we look forward to his contributions to our future success and to driving shareholder value."