New Heinz owners shake up management after takeover

(Reuters) - H.J. Heinz Co announced the departure of 11 executives on Thursday in a management shakeup less than two weeks after its new owners, 3G Capital and Berkshire Hathaway Inc , closed their $28 billion acquisition.

The world's largest ketchup maker revealed a new management team of 11 executives, nine of whom are already with Pittsburgh-based Heinz.

"This announcement demonstrates the power and potential of meritocracy at work here at Heinz," said Bernardo Hees, who recently became chief executive officer after leading Burger King Worldwide Inc , another 3G investment.

Two of the new executives have ties to 3G, a private equity firm co-founded by Brazilian financier Jorge Paulo Lemann.

One is Paulo Basilio, whose appointment as chief financial officer was announced on June 7, when the deal closed. The other is Eduardo Pelleissone, who joins as executive vice president of operations from America Latina Logistica.

3G co-founder Alex Behring is also a co-founder and former CEO of America Latina Logistica, a Brazilian logistics company.

H.J. Heinz said successors for vacant business unit president roles will be named shortly.

(Reporting by Martinne Geller in New York; Editing by Bernard Orr)

Source: http://news.yahoo.com/heinz-owners-shake-management-takeover-181917078.html

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