Kraft Heinz (KHC) stock jumped on Tuesday after the packaged foods company announced Steve Cahillane as its next CEO. Cahillane will take over as the CEO of the company and join its Board of Directors on January 1, 2026. The new CEO is also set to become the CEO of Global Taste Elevation Co.
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Global Taste Elevation Co. is a company that will be created once Kraft Heinz completes its split sometime in 2026. Cahillane is taking over the CEO position from Carlos Abrams-Rivera, who will stick around until March 6, 2026, as an advisor. The company is still searching for a CEO who will lead North American Grocery Co., the second company that will be created from the split.
Cahillane brings with him strong leadership experience in the packaged foods industry. He previously served as the CEO of cereal maker Kellanova from October 2017 to December 2025, when the company was acquired by Mars, Incorporated. He’s also held leadership roles at Nature’s Bounty and Coca-Cola (KO).
Kraft Heinz Stock Movement Today
Kraft Heinz stock was up 1% on Tuesday but was still down 14.61% year-to-date. The stock has also fallen 21.6% over the past 12 months.
Trading activity was muted today, as some 1 million shares of KHC stock changed hands, compared to a three-month daily average trading volume of about 14.42 million units.
Is Kraft Heinz Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Kraft Heinz is Hold, based on 14 Hold and a single Sell rating over the past three months. With that comes an average KHC stock price target of $25.86, representing a potential 4.87% upside for the shares.
