Kraft's snacking biz officially becomes Mondelez International
NEW YORK — Kraft Foods officially changed its name to Mondelez International after spinning off its North American grocery business on Oct. 1.
On Wednesday, the company, led by chairman and CEO Irene Rosenfeld, rang the NASDAQ opening bell to mark the second day of trading under the company's new ticker symbol "MDLZ."
"This is a very special day," Rosenfeld said. "We're making our debut as Mondelez International and unleashing a global snacking powerhouse that's uniquely positioned to delight consumers. We're the world's greatest startup. Out of the gate, we have $36 billion in revenue [based on 2011 revenues] and leading positions in every market in which we compete. What's more, our brands have been loved by consumers around the world for generations. Our board, executive team and employees are energized by the exciting future that lies ahead of us. We're confident we have the right plans in place to deliver top-tier revenue and earnings growth over the long term."
Mondelez International's portfolio includes such brands as Cadbury, Jacobs, LU, Milka, Nabisco, Oreo, Tang and Trident, to name a few.