Kraft Layoffs Reach Global Media VP Mark Stewart

Exec Oversaw Budget of Over $1 Billion

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Mark Stewart, VP-global media at Kraft Foods, will leave the company as part of a major corporate overhaul.

Mark Stewart
Mark Stewart

The move follows Kraft Foods' recent announcement that it will cut 1,600 positions in the U.S. and Canada as it prepares to split the company into two independent organizations.

Mr. Stewart did not respond to calls for comment.

A Kraft spokeswoman said via email: "We've had to make some difficult decisions. One of them was significantly restructuring our Corporate Media Services group. Mark Stewart, our VP of Global Media Services, and others will be leaving the company. Over the past three years, Mark has been a true asset to our organization and has significantly contributed to furthering Kraft 's marketing excellence. He successfully managed strategic media assets for our brands, taking us to the next level, and increased Kraft 's footprint in the digital world."

Kraft would not elaborate so it is unclear whether the post will be retired, restructured or replaced.

On Jan. 17, Crain's Chicago Business reported that about 40% of the cuts will be from the sales reorganization, and about 20% will be eliminated positions that already are vacant. However, the company hadn't specified how many, if any, cuts would come from marketing.

The split, slated for completion in late 2012, will create a North American grocery company and a separate global snacks group.

At Kraft , Mr. Stewart controlled a global ad budget exceeding a U.S. measured media spend of $1 billion in 2010, according to the Ad Age DataCenter. He joined the company in 2009 from Omnicom's OMD, where he had held the titles of managing director, OMD East, and global client and strategy director, according to LinkedIn. He also spent a number of years in senior-level roles at Interpublic Group of Co's Universal McCann and McCann Erickson.

Kraft works with Publicis' Starcom MediaVest Group and Horizon on various buying and planning duties in the U.S.

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