Kraft names new CEO

Kraft Foods Group’s board of directors has named board chairman John Cahill to the position of chairman and CEO of Kraft Foods.

Cahill, 57, will succeed Tony Vernon, who will retire as CEO on Dec. 27, 2014, the last day of the company's fiscal year.

Vernon, listed in this year's SN Power 50, will stay on as a senior advisor through March 31, 2015, and as a director until the company's next an

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