Kraft shareholders approve of name change to “Mondelez”

Altria, Diageo, Mondelez – seems like companies these days are given weird, strange, suggestive or just plain bad names. In preparation for the eventual split, scheduled some time later this year, the shareholders of Kraft Foods on 23 May 2012 voted to change the name of the company to Mondelez International.

What can Mondelez possibly mean? Irene Rosenfeld, Chairman and CEO of Kraft Foods, said: “Mondelez has an appealing international sound that perfectly evokes the idea of a ‘delicious world.’ That’s the essence of our global snacks company.” Oh yeah?

Kraft Foods is dividing to create two publicly listed companies: a high-growth global snacks business (Mondelez International) and a high-margin North American grocery business (Kraft Foods Group).

The proposal for the name change was approved by more than 90 percent of the shareholders who cast a vote. The new name will become effective at the time of the planned spin-off of the company’s North American grocery business.