Retail in Asia

In People

Cadbury sees mass exodus of execs post Kraft takeover

UK-based confectionery-maker Cadbury has been hit by an exodus of personnel ever since it was taken over by US-based Kraft Foods in February, with 70 percent of its managerial workforce putting in their papers. "A total of 120 out of 170 managers and executives have quit since Kraft took control of the 200-year-old company in February after a bitterly fought GBP11.5 billion [USD17.4b] takeover battle," the UK’s Daily Mail reported.

While some resignations are normal after such a major deal, industry experts are shocked at the extent of the exodus.