Business

Brazilian-controlled Kraft Heinz seeks innovation with new CEO

Brazilian-controlled Kraft Heinz seeks innovation with new CEO

For decades, Brazilian billionaire Jorge Paulo Lemann was seen as a modern-day King Midas, who turned every company he bought into money-making machines. His portfolio includes some of the world’s most recognizable brands, such as Burger King and Budweiser. One in every five beers sold worldwide is produced by AB Inbev—a company of which Mr. Lemann holds a large stock and which is led by one of his protegés. In 2015, he piloted one of the world’s most impressive merger and acquisition deals—uniting Heinz and Kraft Foods under...

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