- Kraft Foods CEO Roger Deromedi has been hospitalized with what the company terms "an undiagnosed medical condition." No time frame has been given for his return, and analysts believe it won't be anytime soon.
The company said that its chairman Louis Camilleri, who is also chairman and CEO of Kraft's controlling shareholder, tobacco holding company Altria Group Inc., will assume direct leadership of Kraft for the time being.
- Nova Scotia-based Sobeys named Duncan Reith, the former president of Sobeys Ontario region to be its chief merchandising officer.
- Penn Traffic Co. named Bob Chapman as the company's president and CEO, succeeding Steve Penagos will stay on as chief restructuring officer.