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Polman warns of foodmaker's cost-cutting culture.
February 19, 2017
By: TOM BRANNA
Editor
After being criticized by Unilever's CEO, Kraft Heinz officially withdrew its $143 billion offer to purchase the world's No. 2 FMCG company. The Wall Street Journal reported that Unilever CEO Paul Polman warned investors and board members that a culture of cost-cutting at Kraft could damage Unilever’s brands. Polman also said Kraft, which sells products like Velveeta and Jell-O, had a lack of experience in personal-care and household goods, reported the Journal, which quoted peo...
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