Difference between revisions of "Kraft Foods Inc."
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| − | Kraft Foods is a packaged food company formerly owned by tobacco giant [[Philip Morris]]/[[Altria]] | + | Kraft Foods is a packaged food company formerly owned by tobacco giant [[Philip Morris]]/[[Altria]]<ref>Altria Group Inc 2007 [http://www.altria.com/investors/02_00_NewsDetail.asp?reqid=980448 Altria Group, Inc. Completes Spin-off of Kraft Foods Inc.] Accessed 2007</ref>. |
In 2006, they purchased about $8.2 billion worth of commodities. The company is one of the world’s largest purchasers of several agricultural commodities, including such varied products as coffee, cocoa and select nuts. | In 2006, they purchased about $8.2 billion worth of commodities. The company is one of the world’s largest purchasers of several agricultural commodities, including such varied products as coffee, cocoa and select nuts. | ||
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| − | 2006 Total Number of Kraft Employees by Region: | + | 2006 Total Number of Kraft Employees by Region<ref>Kraft [http://kraft.com/responsibility/people.aspx People] accessed 2007</ref>: |
* North America 46,812 | * North America 46,812 | ||
* Asia Pacific 5,140 | * Asia Pacific 5,140 | ||
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At the present time (Oct 2007) Rosenfeld forecasts revenues will increase at least 4% in 2007, to $35.7 billion, excluding the effects of the company's $7.2 billion purchase of part of [[Groupe Danone]] (GDNNY). That's higher than the company's 0.7% growth in 2006, but short of the company's targets and also short of the 5% increases the company delivered from 2002 to 2005. | At the present time (Oct 2007) Rosenfeld forecasts revenues will increase at least 4% in 2007, to $35.7 billion, excluding the effects of the company's $7.2 billion purchase of part of [[Groupe Danone]] (GDNNY). That's higher than the company's 0.7% growth in 2006, but short of the company's targets and also short of the 5% increases the company delivered from 2002 to 2005. | ||
| − | Kraft will earn $2.85 billion in 2007, around $1.80 to $1.82 a share, leaving out one-time items. Add those in, and Kraft's net income drop to $2.45 billion, its poorest year since 2001. | + | Kraft will earn $2.85 billion in 2007, around $1.80 to $1.82 a share, leaving out one-time items. Add those in, and Kraft's net income drop to $2.45 billion, its poorest year since 2001<ref>Michael Arndt (2007)[http://www.businessweek.com/bwdaily/dnflash/content/sep2007/db20070924_882990.htm Kraft at Work Burnishing Its Brands] Viewed 2007</ref>. |
== Policy == | == Policy == | ||
| − | Kraft claim that they are " are committed to responsible business conduct. We constantly strive to stay in touch with society’s changing expectations of us and determine where we can help make a meaningful difference to society." : | + | Kraft claim that they are " are committed to responsible business conduct. We constantly strive to stay in touch with society’s changing expectations of us and determine where we can help make a meaningful difference to society." <ref>Kraft [http://kraft.com/responsibility/home.aspx home] Accessed 2007</ref>: |
To this end Kraft have several policy initiatives in various areas such as sustainable farming, nutrition and wellbeing and quality and food safety. | To this end Kraft have several policy initiatives in various areas such as sustainable farming, nutrition and wellbeing and quality and food safety. | ||
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=== Nutrition and wellbeing === | === Nutrition and wellbeing === | ||
| − | Under the policy area of nutrition and wellbeing Kraft claim they are investing in tackling childhood obesity worldide. Kraft UK & Ireland, are "helping children to find out about healthy lifestyles and create their ideal playgrounds through [[health4schools]]". This programme claims to take a holistic approach to "nurturing life-long healthy lifestyle habits in children, by encouraging them to grow their own food, plan and cook healthy meals, appreciate the benefits of breakfast and engage in active play". Each school that participates in ther programme receives a package of support and resources worth €7000, including a grant to pay for improvements to the playground. The programme is currently underway in 75 Gloucestershire schools and will Kraft are aiming to extend the programme to at least 100 schools in the future. The programme has been developed in partnership with the Local Education Authority and Business in the Community. | + | Under the policy area of nutrition and wellbeing Kraft claim they are investing in tackling childhood obesity worldide. Kraft UK & Ireland, are "helping children to find out about healthy lifestyles and create their ideal playgrounds through [[health4schools]]". This programme claims to take a holistic approach to "nurturing life-long healthy lifestyle habits in children, by encouraging them to grow their own food, plan and cook healthy meals, appreciate the benefits of breakfast and engage in active play". Each school that participates in ther programme receives a package of support and resources worth €7000, including a grant to pay for improvements to the playground. The programme is currently underway in 75 Gloucestershire schools and will Kraft are aiming to extend the programme to at least 100 schools in the future. The programme has been developed in partnership with the Local Education Authority and Business in the Community<ref>Kraft [http://kraft.com/responsibility/nhw_communitybased.aspx Community] Accessed 2007</ref>. |
| − | At the same time they have remained robust in defence of their policies on portion size, fat and sugar levels in certain products, | + | At the same time they have remained robust in defence of their policies on portion size, fat and sugar levels in certain products, labelling and advertising to children above 6. |
=== Child labour === | === Child labour === | ||
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This however, is then followed by the following comment " Global supply chains for raw materials, including some agricultural products of relevance to our business, can be lengthy and quite complex, reducing our potential influence and adding further hurdles to the challenge of understanding and effectively addressing issues that may exist." This appears to give Kraft a "get out" clause whereby any breaches of their code would have occured due to the complexities on the business and would be the fault of local producers not Kraft. | This however, is then followed by the following comment " Global supply chains for raw materials, including some agricultural products of relevance to our business, can be lengthy and quite complex, reducing our potential influence and adding further hurdles to the challenge of understanding and effectively addressing issues that may exist." This appears to give Kraft a "get out" clause whereby any breaches of their code would have occured due to the complexities on the business and would be the fault of local producers not Kraft. | ||
| − | What is also troubling is what appears to be missing from the Kraft statement. There does not appear to be any commitment to a regime of inspection in the issue of child labour, or any commitment to pay for such a regime. And at no point does the statement indicate what would happen to any producers or supplier who broke the Karft code on child labour. | + | What is also troubling is what appears to be missing from the Kraft statement. There does not appear to be any commitment to a regime of inspection in the issue of child labour, or any commitment to pay for such a regime. And at no point does the statement indicate what would happen to any producers or supplier who broke the Karft code on child labour<ref>Kraft [http://kraft.com/responsibility/people_policy.aspx People Policy] Accessed 2007</ref>. |
== Affiliations == | == Affiliations == | ||
| − | *[[American Council for Fitness and Nutrition]] | + | *[[American Council for Fitness and Nutrition]]<ref>American Council for Fitness and Nutrition [http://www.acfn.org/about-members/ Members] Accessed 2007</ref> Executive Board Member |
| − | *[[British Nutrition Foundation]] | + | *[[British Nutrition Foundation]]<ref>British Nutrition Foundation 2007 [http://www.nutrition.org.uk/home.asp?siteId=43§ionId=352&parentSection=305&which=7 BNF Member Companies] Accessed 2007</ref> Member |
| − | *[[International Food Information Council]] Donor | + | *[[International Food Information Council]] Donor<ref>Kraft Foods Inc [http://www.kraft.com/responsibility/nhw_communitybased.aspx Community-based Health and Wellness Programs] Accessed 2007</ref> |
| − | *[[European Food Information Council]] | + | *[[European Food Information Council]]<ref>European Food Information Council [http://www.eufic.org/page/en/page/ONEUFIC/ About EUFIC] Accessed 2007</ref> Member |
===PR/Lobbying Agencies/People=== | ===PR/Lobbying Agencies/People=== | ||
| − | *[[Bivings Group]] | + | *[[Bivings Group]]<ref>The Bivings Group 2007 [http://www.bivings.com/client/index.html Client List] accessed 2007</ref> |
| − | *[[Edelman]] | + | *[[Edelman]]<ref>Paul Goldberg (2003) [http://www.prwatch.org/prwissues/2003Q3/cancer.html Cancer PR Firms Still Addicted to Tobacco] PR Watch, Third Quarter 2003, Volume 10, No. 3. Accessed 2007</ref> |
| − | *[[Society of European Affairs Professionals]] | + | *[[Society of European Affairs Professionals]]<ref>Society of European Affairs Professionals 2007 [http://www.seap.eu.org/html/members.html Members of SEAP] Accessed 2007</ref> |
| − | *[[Lexis Public Relations Ltd]] | + | *[[Lexis Public Relations Ltd]]<ref>Corporate Watch [http://www.corporatewatch.org.uk/?lid=1303 GLENEAGLES: Lexis PR and corporate sponsorships] Accessed 2007</ref> |
| − | *[[Noguchi Communications]] | + | *[[Noguchi Communications]]<ref>Porter Novelli [http://www.porternovelli.com/site/pressrelease.aspx?pressrelease_id=63&pgname=news Porter Novelli Announces New Hungarian Partner Noguchi Communications Joins Agency Network] Accessed 2007</ref> |
| − | *[[Interbrand]] | + | *[[Interbrand]]<ref>Interbrand 2007 [http://www.interbrand.com/portfolio_details.asp?portfolio=2291 In A Biskit: Stops the Munchies] Accessed 2007</ref> |
===Corporate lobby groups=== | ===Corporate lobby groups=== | ||
| − | *[[Food and Drink Federation]] | + | *[[Food and Drink Federation]]<ref>Food and Drink Federation 2007 [http://www.fdf.org.uk/members_full.aspx?letter=k Full Members] Accessed 2007</ref> |
===Community and Social Responsibility initiatives=== | ===Community and Social Responsibility initiatives=== | ||
| − | *[[Kraft Cares]] | + | *[[Kraft Cares]]<ref>Kraft 2007 [http://www.kraft.com/responsibility/cc_kraft_cares.aspx Kraft Cares: Focusing Our Giving to Make a Difference] Accessed 2007</ref> |
*[[health4schools]] | *[[health4schools]] | ||
===Other services=== | ===Other services=== | ||
| − | *[[Brambles]] | + | *[[Brambles]]<ref>Brambles 2007 [http://www.brambles.com/bxb/content/about_otherbusinesses_chep.html Chep Overview] Accessed 2007</ref> |
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== References == | == References == | ||
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Revision as of 11:05, 27 February 2008
Kraft Foods is a packaged food company formerly owned by tobacco giant Philip Morris/Altria[1]. In 2006, they purchased about $8.2 billion worth of commodities. The company is one of the world’s largest purchasers of several agricultural commodities, including such varied products as coffee, cocoa and select nuts.
Contents
People
Board of Directors
- Irene B. Rosenfeld Chairman and Chief Executive Officer, Kraft Foods Inc.
- Ajay Banga Co-Chairman and Chief Executive Officer, Global Consumer Group, Citigroup, Inc.
- Jan Bennink President and Chief Executive Officer, Royal Numico N.V.
- Louis C. Camilleri Chairman and Chief Executive Officer, Altria Group, Inc.
- Mark Ketchum President and Chief Executive Officer, Newell Rubbermaid Inc.
- Dr. Richard A. Lerner President, The Scripps Research Institute
- John C. Pope Chairman, PFI Group, LLC
- Mary L. Schapiro Chief Executive Officer and Chairman, FINRA
- Deborah C. Wright Chairman, President and Chief Executive Officer, Carver Bancorp, Inc.
Employees
2006 Total Number of Kraft Employees by Region[2]:
- North America 46,812
- Asia Pacific 5,140
- Latin America 15,703
- European Union 16,039
- Eastern Europe, Middle East and Africa (EEMA) 6,334
Finances
Since Kraft became independent from Altria in March 2006 it has become a magnet for big-name investors who like undervalued stocks. Irene Rosenfeld had developed a three year recovery plan for the company. By 2009, she promises Kraft will be able to hit 7% to 9% annual growth in earnings per share and sales from the company's existing brands 4% annually. At the present time (Oct 2007) Rosenfeld forecasts revenues will increase at least 4% in 2007, to $35.7 billion, excluding the effects of the company's $7.2 billion purchase of part of Groupe Danone (GDNNY). That's higher than the company's 0.7% growth in 2006, but short of the company's targets and also short of the 5% increases the company delivered from 2002 to 2005.
Kraft will earn $2.85 billion in 2007, around $1.80 to $1.82 a share, leaving out one-time items. Add those in, and Kraft's net income drop to $2.45 billion, its poorest year since 2001[3].
Policy
Kraft claim that they are " are committed to responsible business conduct. We constantly strive to stay in touch with society’s changing expectations of us and determine where we can help make a meaningful difference to society." [4]:
To this end Kraft have several policy initiatives in various areas such as sustainable farming, nutrition and wellbeing and quality and food safety.
Nutrition and wellbeing
Under the policy area of nutrition and wellbeing Kraft claim they are investing in tackling childhood obesity worldide. Kraft UK & Ireland, are "helping children to find out about healthy lifestyles and create their ideal playgrounds through health4schools". This programme claims to take a holistic approach to "nurturing life-long healthy lifestyle habits in children, by encouraging them to grow their own food, plan and cook healthy meals, appreciate the benefits of breakfast and engage in active play". Each school that participates in ther programme receives a package of support and resources worth €7000, including a grant to pay for improvements to the playground. The programme is currently underway in 75 Gloucestershire schools and will Kraft are aiming to extend the programme to at least 100 schools in the future. The programme has been developed in partnership with the Local Education Authority and Business in the Community[5]. At the same time they have remained robust in defence of their policies on portion size, fat and sugar levels in certain products, labelling and advertising to children above 6.
Child labour
Kraft buy massive quantities of coffee and cocoa and have a statement on child labour which they claim is based on International Labor Organization (ILO) conventions and national laws. They state their comitment to "restrict employment to those age 15 or older, or the local minimum employment age, or the mandatory school age, whichever is higher."
They go on to state that they " communicate this policy to our direct suppliers, licensees and joint ventures, and we include a clear contractual obligation to meet these requirements as an ongoing condition of our business relationship. " This however, is then followed by the following comment " Global supply chains for raw materials, including some agricultural products of relevance to our business, can be lengthy and quite complex, reducing our potential influence and adding further hurdles to the challenge of understanding and effectively addressing issues that may exist." This appears to give Kraft a "get out" clause whereby any breaches of their code would have occured due to the complexities on the business and would be the fault of local producers not Kraft.
What is also troubling is what appears to be missing from the Kraft statement. There does not appear to be any commitment to a regime of inspection in the issue of child labour, or any commitment to pay for such a regime. And at no point does the statement indicate what would happen to any producers or supplier who broke the Karft code on child labour[6].
Affiliations
- American Council for Fitness and Nutrition[7] Executive Board Member
- British Nutrition Foundation[8] Member
- International Food Information Council Donor[9]
- European Food Information Council[10] Member
PR/Lobbying Agencies/People
- Bivings Group[11]
- Edelman[12]
- Society of European Affairs Professionals[13]
- Lexis Public Relations Ltd[14]
- Noguchi Communications[15]
- Interbrand[16]
Corporate lobby groups
Community and Social Responsibility initiatives
Other services
References
- ↑ Altria Group Inc 2007 Altria Group, Inc. Completes Spin-off of Kraft Foods Inc. Accessed 2007
- ↑ Kraft People accessed 2007
- ↑ Michael Arndt (2007)Kraft at Work Burnishing Its Brands Viewed 2007
- ↑ Kraft home Accessed 2007
- ↑ Kraft Community Accessed 2007
- ↑ Kraft People Policy Accessed 2007
- ↑ American Council for Fitness and Nutrition Members Accessed 2007
- ↑ British Nutrition Foundation 2007 BNF Member Companies Accessed 2007
- ↑ Kraft Foods Inc Community-based Health and Wellness Programs Accessed 2007
- ↑ European Food Information Council About EUFIC Accessed 2007
- ↑ The Bivings Group 2007 Client List accessed 2007
- ↑ Paul Goldberg (2003) Cancer PR Firms Still Addicted to Tobacco PR Watch, Third Quarter 2003, Volume 10, No. 3. Accessed 2007
- ↑ Society of European Affairs Professionals 2007 Members of SEAP Accessed 2007
- ↑ Corporate Watch GLENEAGLES: Lexis PR and corporate sponsorships Accessed 2007
- ↑ Porter Novelli Porter Novelli Announces New Hungarian Partner Noguchi Communications Joins Agency Network Accessed 2007
- ↑ Interbrand 2007 In A Biskit: Stops the Munchies Accessed 2007
- ↑ Food and Drink Federation 2007 Full Members Accessed 2007
- ↑ Kraft 2007 Kraft Cares: Focusing Our Giving to Make a Difference Accessed 2007
- ↑ Brambles 2007 Chep Overview Accessed 2007
