From Quartz.

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On Wednesday, Kraft Heinz said it will pause work on its previously announced separation plan to concentrate on restoring profitable growth. CEO Steve Cahillane said challenges are “fixable,” outlining a focus on modernizing iconic brands and avoiding near-term dis-synergies in the Kraft Heinz separation plan. The company reported full-year net sales of $24.9 billion, down 3.5%; an operating loss of $4.7 billion, primarily due to $9.3 billion in non-cash impairment; and KHC stock down more than 7% in premarket trading. Management also announced a $600 million investment to accelerate its Taste Elevation portfolio and support recovery in U.S. retail. The Chicago-based food maker had previously detailed plans to split into two businesses, a decade after the Kraft Heinz merger. #kraftheinz #businessstrategy #growthfocus #foodindustry #investment

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