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Food Industry Is Rapidly Changing

Irene Rosenfeld of Mondelez says the industry is seeing profound changes that are bigger than any she’s seen during her career.
November 2, 2017

​NEW YORK – The food industry is changing faster than it ever has before, Mondelez's outgoing CEO Irene Rosenfeld told CNBC’s “Squawk on the Street” this week.

"We have seen the most profound changes in the consumer, in the customer base, in the channel penetration, in our competitive actions. And as a result, it's been probably the magnitude and the speed of those changes is bigger than any I have seen in my career," Rosenfeld told the news source.

Rosenfeld has led Mondelez since 2012 when the company was spun off from Kraft, where she served as CEO since 2006. She says that while the scale of larger food companies is critical in today's global economy, they still need to keep their ears to the ground.

“Wall Street has hammered food companies facing changing consumer preferences, a competitive retail environment and growing e-commerce platforms like Amazon,” writes CNBC, and Rosenfeld said that these challenges are radically different from other "cosmic changes" that occur every few years.

Rosenfeld's successor, Dirk Van de Put, will take over as CEO of Mondelez on November 20. He previously served as president and CEO of McCain Foods Limited.

"I think we've got the fundamental foundation in terms of our margin structure setup. Obviously, we'll continue to see opportunities there," Rosenfeld told CNBC. "I truly believe that the combination of a strong top line together with a strong bottom line is what makes for a sustainable business."