Kraft welcomes new president

NORTHFIELD, Ill. Kraft Foods announced that W. Anthony Vernon will become president of Kraft Foods North America, commencing mid-August.

Vernon will take the place of Rick Searer, who will retire this September after nearly 30 years with the company. Prior to joining Kraft, Vernon was employed by the private equity firm Ripplewood Holdings, followed by Johnson & Johnson. Vernon is a 26-year veteran of the healthcare industry.

"Tony has an impressive history of building and sustaining iconic consumer brands," said Irene Rosenfeld chairman and CEO at Kraft. "His strong track record of growth through consumer-driven innovation, world-class marketing and strong retail relationships will help to further accelerate our business performance."