Kraft Heinz (KHC) said late Tuesday its board and executive leadership team have been assessing potential strategic deals to unlock shareholder value and announced the reduction of its board size.
Kraft Heinz also said Berkshire Hathaway (BRK.A) has informed the company that, in line with its other non-controlled investments, it will no longer hold board seats on Kraft Heinz.
Timothy Kenesey and Alicia Knapp have stepped down from Kraft Heinz's board due to their relationship with Berkshire Hathaway, reducing the size of its board to 10 members.
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