Betsy Holden, president of global marketing and category development for Kraft Foods Inc., has decided to leave the company and resign as a board member. The changes took effect June 30.
The company said Holden is leaving to take a nine- to 12-month sabbatical to spend time with her teenage children and then find work elsewhere.
Roger Deromedi, Kraft's CEO, thanked Holden in a statement for her 23 years of work at Kraft, her leadership in establishing the global marketing and category development group and in guiding health and wellness initiatives.
"We wish her all the best in her future endeavors," Deromedi said.
Following Holden's departure, Paula Sneed, formerly senior VP-marketing and resources, will be executive VP-global marketing resources and initiatives. She has been with Kraft for 28 years and has held numerous positions in brand and business management, the company said.
John Baxter, formerly senior VP-global snacks, has been named executive VP-global category development. Baxter will be responsible for Kraft's global consumer sectors and its focus on health and wellness. Baxter has been with Kraft for 16 years.
In December 2003, under pressure from Wall Street to turn around its North American business, Holden was removed from the position of co-chief executive, and Deromedi was named CEO. She was also demoted from her job as president of Kraft Foods North America. In January 2004, the company announced a global reorganization that included a newly formed top marketing post for Holden, president global marketing and category development.