H.J. Heinz Company and Kraft Foods Group, Inc. announced that they have entered into a definitive merger agreement to create The Kraft Heinz Company, forming the third largest food and beverage company in North America with an unparalleled portfolio of iconic brands.

Kraft Foods Inc. says shareholders approved the name “Mondelez” for its new global snack food business, which may put to rest the snickering that initially greeted the name.

Kraft Foods Inc. said it would eliminate 1,600 jobs and reported preliminary operating earnings per share for 2011 that trailed some analysts’ estimates.

Irene Rosenfeld will stay on as chairman and CEO of Kraft Foods' global snacks company, and Tony Vernon will serve as CEO of the North American grocery business when Kraft Foods splits later this year.

Kraft Foods says it is feeding the hunger for bold flavors, easy meal solutions and delicious better-for-you offerings with more than 70 new product innovations in the coming year.

Kraft Foods Inc., which is splitting into two, named Irene Rosenfeld as chairman and chief executive officer of the Global Snacks Co. as well as Anthony Vernon as CEO and John Cahill as chairman of the North American Grocery Co.

Premier Foods Plc said Michael Clarke will take over as the new chief executive officer effective September, succeeding Robert Schofield.

Timothy P. Cofer was appointed president of Kraft Foods Europe Division.

Kraft Foods Corporation plans to invest $50 million in the construction of a logistics center in Sumy region, Kraft Foods Ukraine Board Chairman Yuriy Lohush has said.