Executives from P&G, Macy's nominated to serve on Kraft Foods board
NORTHFIELD, Ill. — Kraft Foods has nominated two candidates to serve on the company's board of directors.
Terry Lundgren, Macy's CEO, and Jorge Mesquita, Procter & Gamble's group president of new business creation and innovation, were nominated because "each brings specific skills that will be terrific assets to our business," Kraft said. The nominations were announced as current directors Ajaypal Banga and Richard Lerner, who have served on the board since 2007 and 2005, respectively, not stand for re-election. All other members of the board, however, will stand for re-election.
Shareholders will elect 11 directors for one-year terms at the company's annual meeting, which will take place at May 23 at the North Shore Center for the Performing Arts in Skokie, Ill.