15: Betsy Holden

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Ad budget: $869 million

Agency Roster: WPP Group's Bravo Group and Uniworld Group, both New York; J. Walter Thompson USA, Chicago; Ogilvy & Mather, New York and Los Angeles; and Young & Rubicam, Chicago. Interpublic Group of Cos.' Foote, Cone & Belding Worldwide, Chicago. Publicis Groupe's Leo Burnett USA and Starcom MediaVest Worldwide's MediaVest, both Chicago.

Power play: Ms. Holden, 46, has stressed innovation in both products and in media. Kraft under Ms. Holden has successfully leveraged its "power trademarks" such as Oreo and Ritz, and grown them incrementally by extending them into new arenas like Mini Oreos and Cookie Barz. Also under her watch, Kraft has tried to lessen its reliance on traditional media like TV, in favor of more targeted, integrated initiatives. Toward that end, Kraft has recently forged cross-media deals with both Viacom and AOL Time Warner.

Downside: Kraft faces a challenge in its large-scale cheese business, and the company hasn't been happy with the advertising on the business from JWT. Kraft recently shifted its new Rip-Ums snack cheese from JWT to FCB just as the first work on the brand appeared.

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