Kraft Foods Inc posted higher-than-expected second-quarter profit but left its full-year targets unchanged, saying it plans to reinvest any upside back in the businesses.
Kraft also said on Thursday that the spin-off of its grocery business, which includes Maxwell House coffee and Oscar Mayer meat, would occur on 1 October.
It also named the members of the board of directors for that company, which will keep the Kraft name, and for the remaining snack food company, to be called Mondelez International.
(Source: The Malaysian Insider)