Kraft bosses face Cadbury grilling
Kraft executives are set to be quizzed by MPs today (15 March) about the US food giant’s takeover of Cadbury. The meeting of the Business, Innovation and Skills (BIS) select committee comes after Kraft confirmed it would move part of the business to Zurich.
It is thought by moving parts of its operation to Switzerland, the company could save millions of pounds in corporation tax.
Marc Firestone, an executive vice-president at Kraft Foods, and Nick Bunker, president of Kraft Foods in the UK and Ireland, will face the committee today. However, the company’s chief executive Irene Rosenfeld will not be present at the meeting.
Former Cadbury president Trevor Bond, who is now a senior Kraft executive, will also join the conference.
The committee is to question the Kraft executives on the progress of the integration of Cadbury following the takeover and request an update on jobs.
Kraft bought Birmingham-based Cadbury for £11.5bn last year.
