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Cahillane's Kraft Heinz Split Reversal: The Breakup Specialist's New Challenge

Wall Street Journal US Business •
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Steve Cahillane, the food industry's notorious breakup specialist, now faces his toughest test: keeping Kraft Heinz intact. Just weeks into his role as CEO, Cahillane flew to Omaha to meet with Berkshire Hathaway's Greg Abel. Kraft Heinz, valued at $25 billion, was planning a contentious split Cahillane was tasked with executing.

Cahillane's message to Abel was clear: shareholder returns were paramount. While Cahillane initially thought the breakup made sense, he was still studying the situation. Abel, however, reiterated Berkshire's long-standing opposition, arguing the company's problems wouldn't be solved by splitting it up.

This meeting highlights Cahillane's pivot from dismantling companies to preserving one of the largest food conglomerates.