Kraft Heinz completes internal investigation into procurement practices



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BACKGROUND PHOTO: A bottle of Heinz Ketchup sits between a box of Kraft Cheese Macaroni and a bottle of Kraft Original Barbecue Sauce on a grocery shelf in New York City on March 25, 2015. REUTERS / Brendan McDermid / File Photo

(Reuters) – Kraft Heinz Co said on Friday that the company's internal investigation into its practices for purchasing and evaluating internal controls was now complete and that it planned to report on its quarterly results. no later than July 31st.

Kraft Heinz also filed its annual report for the 2018 fiscal year.

Last month, the company announced that it would rewrite financial reports over a period of nearly three years to correct errors resulting from failures in the procurement practices of some of its employees.

"We are pleased that Kraft Heinz is back on the road to standardization," said Alex Behring, chairman of the Kraft Heinz board of directors.

Report by Nivedita Balu in Bengaluru; Edited by James Emmanuel

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