Bernardo Hees, Managing Director of Kraft Heinz, leaves his post

Kraft Heinz Chief Executive Officer leaves the food industry after a profit warning that shook the global consumer goods industry.

Bernardo Hees will be replaced in late June by Miguel Patricio, leader of the brewer Anheuser-Busch InBev, supported by the Brazilian investment group 3G Capital, which also controls Kraft Heinz.

The leadership change comes at a critical time for Kraft Heinz. The maker of Kraft Process Cheese, Heinz Tomato Ketchup and HP Sauce took a $ 15 billion decline in February due to the decline in value of some of its larger brands. The Chicago-based company also revealed it had received a subpoena from the US Securities and Exchange Commission and cut its dividend by a third.

After the news of the multi-billion dollar collapse, Warren Buffett, of which Berkshire Hathaway has a significant stake, admitted for the first time that he had paid too much for the merger between Kraft and Heinz. Mr. Buffett and 3G Capital bought Kraft in 2015 to merge with Heinz as part of a 2015 transaction valuing Kraft at $ 63 billion. When the combined company was introduced to the stock market at the time, it was worth $ 89 billion. Monday, it was worth $ 40.2 billion.

Mr Patricio told the Financial Times that he was aware of the challenges that lay ahead, admitting that there was a lot of work to be done at a time when the sector is changing and transforming. But, aged 52, he is determined to do the job.

"There is nothing sweeter in life than a turnaround," Patricio said in an interview with the FT.

Mr. Patricio, a native of Portugal, spent two decades at AB InBev, including as Chief Marketing Officer between 2012 and 2018.

Mr. Hees, 49, is a long-time leader in 3G. He oversaw the mega-merger of Kraft in 2015 with Heinz. "We appreciate his contributions," said Alex Behring, head of 3G and chairman of Kraft Heinz, in a statement.

Mr. Hees said, "It is an honor for me to be the CEO of Kraft Heinz and to transform it throughout its transformation over the last six years. I am confident that Miguel and the team will take Kraft Heinz to new heights. "

Mr. Patricio said his priorities in the first two months were to get to know the people of Kraft Heinz, their culture, work on a new growth strategy and know the number of people behind the company.

"Bernardo (Hees) concluded the first phase," said Patricio during an interview. "I bring to the table a new background. . . I can contribute in a different way. . . make the business more consumer-centric. "

He added that his goal would be primarily organic growth rather than trading. He added that he was open to partnerships with other innovative consumer groups, as well as with universities, to help Kraft Heinz anticipate new trends rather than react to them.

This is the latest in a series of changes in the management of the global food and beverage industry, which is fraught with the rapidly changing tastes of consumers.