Kraft Heinz, Marketing Director, leaves

Kraft Heinz's chief marketing officer, Eduardo Luz, is leaving the company as sales figures continue among the struggling food giant.

Kraft Heinz announced last month that its long-time CEO, Bernardo Hees, will step down on June 30 and will be replaced by Miguel Patricio, former marketing director of Anheuser-Busch InBev. Eduardo Pelleissone, Head of Strategic Projects at Kraft Heinz, is also leaving the company to pursue other opportunities from June 30th.

Kraft Heinz shares fell by more than 24% during the year. Investors were shocked by the announcement of earnings in February, in which the company announced a 36% reduction in its dividend, a $ 15 billion mark down and a Securities and Exchange Commission investigation . in its accounting and procurement practices

The company, which has twice delayed filing its annual report, is in conflict with its auditor, Warren Buffett said Saturday. Buffett's Berkshire Hathaway is the largest investor in Kraft Heinz.

The outgoing CEO, Hees, said Tuesday Luz's departure in an internal email addressed to employees.

A spokesman for Kraft Heinz confirmed Luz's departure, telling CNBC "Eduardo Luz has decided to leave Kraft Heinz at the end of May, we thank him for his many contributions over the last six years and we wish a lot of success. "

Luz, like Hees and Pelleissone, started with the company at H.J Heinz, which private equity firms 3G Capital and Berkshire Hathaway acquired in 2013. At Heinz, Luz has held the position of general manager of consumer products. When 3G and Berkshire merged Heinz and Kraft Foods two years later, he remained in charge of brand management that Kraft Heinz sells in a central grocery store, such as his ketchup, frozen food and Maxwell House coffee. . He was then promoted to Director of Marketing.

During his grocery portfolio management, Luz helped the unit restore the growth of its revenue, according to the internal rating. Luz is credited with the growth of the Heinz brand, which has seen sales increase 26% over the past six years, according to Nielsen. He also oversaw the launch of the Devour Frozen Meal brand, which revitalized his branded frozen food business.

However, other Kraft Heinz brands, particularly those from the Kraft Foods portfolio, have not performed well. Many do not have the same global appeal as brands like Heinz ketchup. Products such as Maxwell House's packaged coffee are particularly sensitive to high-end or cheaper competitors.

Kraft Heinz has been criticized for being too focused on cost-cutting and large-scale 3G negotiations, instead of the investments needed to combat the intensification of competition. The struggles with the company's Oscar Mayer and Kraft cheese brands contributed to the $ 15 billion reduction that Kraft Heinz revealed in February.

Over the last month, Kraft Heinz has brought a new perspective to his management approach. Prior to last month's reorganization, Kraft Heinz had hired only one senior US external executive over the past two years: Rashida La Lande, General Counsel.

Patricio, the incoming incoming CEO, previously held the position of Chief Marketing Officer at AB InBev, which contrasts with Hees' expertise in reducing costs and integrating transactions. Patricio said it would focus on speed, sales growth and brand building of Kraft Heinz.

Adam Butler, president of Kraft Heinz for drinks, snacks and desserts, will temporarily assume Luz's responsibilities. Butler has been with Kraft Heinz for more than a decade, according to his LinkedIn profile, including eight years with his predecessor, Kraft Foods.