Kraft Heinz Picks New C.E.O. as It Faces Weak Sales and S.E.C. Inquiry

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Kraft Heinz said on Monday that Miguel Patricio, an Anheuser-Busch InBev veteran, would succeed Bernardo Hees as chief executive, signaling a potential change in strategy that could involve moving away from years of cost-cutting by the giant food maker.

The announcement comes just months after Kraft Heinz took a $15.4 billion write-down for its Kraft and Oscar Mayer brands and other assets, slashed its dividend and said that the Securities and Exchange Commission was investigating its accounting practices.

[Readourarticle on the immediate and long-term challenges facing Kraft Heinz.]

Mr. Patricio will take the helm at Kraft Heinz in July after spending two decades at Anheuser-Busch, most recently as the brewer’s global chief marketing officer.

Kraft Heinz’s stock rose about 1 percent in early trading after the announcement.

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