Kraft Heinz CEO stepping down, Patricio named successor

FILE PHOTO -- A Heinz Ketchup bottle sits between a box of Kraft macaroni and cheese and a bottle of Kraft Original Barbecue Sauce on a grocery store shelf in New York City, New York, U.S. March 25, 2015. REUTERS/Brendan McDermid/File Photo

PITTSBURGH (AP) — Kraft Heinz says CEO Bernardo Hees will step down from the post and be succeeded by Miguel Patricio in July.

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Patricio worked in various roles at Anheuser-Busch InBev over 20 years, including serving as chief marketing officer. He's also worked at companies including Philip Morris, The Coca-Cola Co. and Johnson & Johnson.

In February Kraft Heinz disclosed an investigation by federal regulators and said that it would slash the value of its Oscar Mayer brands by a $15.4 billion.