Warren Buffett to retire from Kraft Heinz board in April

Kraft Heinz said billionaire investor Warren Buffett has decided to retire from the company’s board following the end of his term in April to reduce travel commitments.

HJ Heinz, backed by Buffett’s Berkshire Hathaway and Brazil’s private equity firm 3G Capital, acquired Kraft Foods Group in 2015 to create one of the biggest food and beverage companies in the world. Berkshire Hathaway is Kraft Heinz’s biggest shareholder with 26.7 per cent stake as of December 31, according to Thomson Reuters data.
 

Last week, the maker of Velveeta cheese and Heinz ketchup reported disappointing fourth-quarter results, a sign of continued pressure on