Kraft Says CEO Has Viral Infection
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Kraft Foods Inc. said Chief Executive Roger Deromedi has been suffering from a viral infection but will return to work May 10 -- ending the company’s two-week silence on his previously undisclosed illness and condition.
The nation’s largest food company did not explain why it had chosen to keep the details surrounding the hospitalization of its 50-year-old CEO such a tightly held secret for so long despite calls by investors to release more information.
A four-sentence internal announcement that was made public at the close of the trading day cited privacy issues but did not otherwise elaborate.
Kraft shares fell 24 cents to $30.84 on the NYSE.
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