The Kraft Heinz Company's new Chief Executive Officer, Steve Cahillane, stated on Wednesday that the company has paused its ongoing initiative to separate into two distinct entities. He characterized many of the challenges the company faces as "solvable and within our control." Shares of The Kraft Heinz Company fell approximately 5% in premarket trading. Since the merger of Kraft and Heinz a decade ago, The Kraft Heinz Company has never achieved the anticipated growth. In September, the company first announced its plan to split into two separate businesses—one focused on grocery products and the other on sauces and spreads. "My top priority is returning the company to profitable growth, which requires ensuring all resources are focused on executing our operational plan. Therefore, we believe it is prudent to pause work related to the separation, and we will no longer incur the associated negative synergies this year," said Cahillane, who took the helm this past January. The Kraft Heinz Company had previously anticipated completing the separation by the end of 2026 and had brought in industry veteran and former Kellogg CEO Steve Cahillane to guide the process. Like other packaged food companies, The Kraft Heinz Company has been struggling with weak demand for its higher-priced condiments and kitchen staples as consumers seek out more affordable alternatives. The company forecasts that organic net sales will decline between 1.5% and 3.5% in 2026. It stated that this forecast includes an impact of approximately 100 basis points due to delayed U.S. food stamp benefit distributions. The company said it will shift its focus to marketing and research, investing $600 million to drive a recovery in its U.S. operations.