Kraft Foods: Mondelez International is the new name for global snacks company

Kraft Foods Inc. announced plans to change its corporate name to Mondelez International, Inc. Mondelez is a newly coined word that evokes the idea of "delicious world." "Monde" derives from the French word for "world," and "delez" is a fanciful expression of "delicious." In addition, "International" captures the global nature of the business. As previously announced, Kraft Foods is dividing to create two industry-leading public companies before the end of 2012: a high-growth global snacks business and a high-margin North American grocery business. The North American grocery company will become Kraft Foods Group, Inc., retaining the Kraft brand for its corporate identity and as the brand for many of its consumer products. As a result, the global snacks company will require a new name when it launches later this year.

"The Kraft brand is a perfect fit for the North American grocery business and gives it a wonderful platform on which to build an exciting future," said Chairman and CEO Irene Rosenfeld. "For the new global snacks company, we wanted to find a new name that could serve as an umbrella for our iconic brands, reinforce the truly global nature of this business and build on our higher purpose – to 'make today delicious.' Mondelez perfectly captures the idea of a 'delicious world' and will serve as a solid foundation for the strong relationships we want to create with our consumers, customers, employees and shareholders."

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