3G Capital and Berkshire Hathaway have announced that Bernardo Hees will become Chief Executive Officer of H.J. Heinz Co. upon completion of the previously announced acquisition of Heinz by an investment consortium comprised of Berkshire Hathaway and 3G Capital.
Hees has been CEO of Burger King Worldwide Inc. (BKW) since September 10, 2010. Prior to joining BKW, Hees was CEO of America Latina Logistica (ALL), Latin America’s largest railroad and logistics company.
“Bernardo is a proven executive with an unparalleled track record of delivering results. Over the past two and a half years at Burger King, Bernardo grew adjusted EBITDA by 44% from $454 million in 2010 to $652 million in 2012 and expanded the company’s adjusted EBITDA margin by 14% from 19% in 2010 to 33% in 2012. His combination of experience, leadership skills, and broad understanding of the food industry make him the ideal leader to drive the next chapter in Heinz’s storied history. Bernardo will work closely with Heinz’s current Chairman, President, and CEO, Bill Johnson, and the management team to ensure a smooth transition over the coming months.”
Johnson will remain as Chairman, President, and CEO of Heinz until the transaction is complete. 3G Capital and Berkshire Hathaway expect to discuss with Johnson his interest in a continuing role with the company post closure following the shareholder meeting on April 30.
