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Kraft taps former P&G exec as new finance chief

NORTHFIELD, Ill. — Kraft Foods Group has appointed former Procter & Gamble executive Teri List-Stoll as the company's SVP of finance, succeeding current CFO Timothy McLevish in the first quarter of 2014.

List-Stoll has deep experience in consumer packaged goods, having worked for nearly 20 years at Procter & Gamble. Since 1994, she has held a number of finance leadership roles in business unit management, supply chain, sales, accounting and financial planning and analysis. Most recently, she was SVP and treasurer. Prior to joining P&G, List-Stoll was a fellow with the Financial Accounting Standards Board and spent six years at Deloitte & Touche, providing financial counsel to large multinational companies. She is also a board and audit committee member of Danaher Corporation and a founding member of the Corporate Women's Executive Forum.

"Teri's financial expertise and deep experience at a consumer- and brand-focused company make her the right choice for our next CFO," said Kraft CEO Tony Vernon. "We'll benefit from her deep commitment to operational excellence and her track record of innovation in company-wide productivity initiatives. Plus, Teri's energy, inclusive leadership style and success in developing people are a perfect match for our new culture."

In her role as SVP of finance, List-Stoll will initially oversee Kraft's business unit finance teams. She'll also work alongside McLevish to ensure an orderly transition of CFO duties.

"We owe a big part of our success to Tim, who is an incredible partner in every way," said Vernon. "He's been instrumental in re-making Kraft, guiding us through a complex separation and establishing us as a stand-alone public company. Tim's lasting legacies will be his disciplined approach to cash management, push for process simplification, and drive to create long-term value for our shareholders."

"I've thoroughly enjoyed helping Kraft navigate some of the most exciting changes in our history," said McLevish. "I am confident Teri is the right person to continue our journey to deliver the cost savings and focused approach to brand investments that will fuel our future growth."