Mondelez: beats consensus and new CEO.
(CercleFinance.com) - Mondelez announced a 16% increase in its quarterly dividend, when unveiled adjusted EPS that was up 19% (at constant exchange rates) at 48 cents, while the consensus was expecting two cents less.
The agri-food group (whose brands include Cadbury, Lu, Milka) saw its adjusted operating margin improve by 90 basis points to 15.8%, with revenues down 5% to 6 billion dollars (-2.7% in organic terms), particularly hit by the cyberattack at the end of June.
In addition, the Board of Directors appointed Dirk Van de Put, the current CEO of McCain Foods, to succeed Irene Rosenfeld, who will step down as Mondelez's CEO in November and then as board chair at the end of March 2018.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The agri-food group (whose brands include Cadbury, Lu, Milka) saw its adjusted operating margin improve by 90 basis points to 15.8%, with revenues down 5% to 6 billion dollars (-2.7% in organic terms), particularly hit by the cyberattack at the end of June.
In addition, the Board of Directors appointed Dirk Van de Put, the current CEO of McCain Foods, to succeed Irene Rosenfeld, who will step down as Mondelez's CEO in November and then as board chair at the end of March 2018.
Copyright (c) 2017 CercleFinance.com. All rights reserved.