Chicago-based Kraft Heinz announced Tuesday that Steve Cahillane will lead the global food company.Cahillane, who previously served as CEO of Chicago-based Kellanova, will become CEO Jan. 1 and will join the company’s board of directors, according to Kraft Heinz.The announcement comes three months after the company said it would be splitting into two independent, publicly traded companies. The separation is expected to be completed in the second half of 2026. The new companies are temporarily called Global Taste Elevation and North American Grocery. Global Taste Elevation will encompass the faster-growing sauces, spreads and seasonings brands, including Heinz, Philadelphia and Kraft Mac & Cheese. North American Grocery will include legacy brands like Oscar Mayer, Kraft Singles and Lunchables.After the split, Cahillane will become CEO of Global Taste Elevation and remain on the company’s board of directors.“Like millions of people around the world, I have a deeply personal connection to the Kraft Heinz brands, dating back to my childhood,” Cahillane said in a news release. “I’ve devoted my entire career to building brands, and the opportunity to do the same with Kraft Heinz’s iconic portfolio is a dream come true. I’m confident the planned separation will accelerate the Company’s ability to compete and win in today’s environment and unlock the immense opportunity in front of us.”The separation follows the 2015 merger of Kraft and Heinz, which created the fifth-largest food and beverage company in the world. But the merger failed to generate a durable improvement in sales and profitability, according to Morningstar…
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