Cadbury bosses to leave within weeks following Kraft takeover

Three senior Cadbury heads are to leave the company within weeks as
Kraft begins to restructure following its takeover.

Less than 24 hours after Kraft gained control of the 189-year-old
British company, Todd Stitzer, chief executive of Cadbury, chairman
Roger Carr and Andrew Bonfield, the chief financial officer, are to
step down. They are expected to go within weeks, rather than months,
according to the Times, after the majority of Cadbury's shareholders
accepted the £11.4bn takeover bid on Tuesday.

Irene Rosenfeld, Kraft's chairman and chief executive, is set to spend
US$1.3bn (£817m) on restructuring costs, leading to fears that more
job cuts will be on the cards. Unions have predicted thousands of
Cadbury jobs are likely to go.

At Cadbury's head office yesterday, Rosenfeld pledged to announce a
new senior management team within 45 days, and to decide on the next
run of management within three months.

Carr will leave the company at least £450,000 better off after his
robust defence of Cadbury helped to force Kraft to add about £1 per
share to its initial approach. Bonfield could receive a payoff of more
than £4m, the newspaper added.