irene rosenfeld

Kraft Foods Inc., which is splitting its business into two publicly traded companies, has named Chairman and CEO Irene Rosenfeld to head the global snacks company after the breakup.

As the recession took a toll on many companies, many shoppers moved to private label or store brand products to save money.

The trend had some food companies worried and they countered with price reductions to avoid losing market share.

But as the gaining popularity of store brands has leveled out, companies are able to see which of their products were able to survive and at what price.

Kraft CEO Irene Rosenfeld discussed the issue with investors during a conference call on Tuesday.

The chairman of candy maker Cadbury PLC said Saturday that Kraft Foods Inc. undervalued his company in a takeover offer this week, and he dismissed the suitor as a "low growth conglomerate." Roger Carr laid out his opposition to Kraft's $16.7 billion bid in an open letter to Kraft CEO Irene Rosenfeld.