• by Nina Lentini  @Nina_Lentini, April 16, 2007

Jeri B. Finard, who just last September became the first CMO at Kraft, the nation's leading food producer, resigned her position Friday and will remain with the company for a transition period through mid-May.

Since joining the Northfield, Ill.-based Kraft 21 years ago as an assistant brand manager, Finard has touched nearly every brand through a number of marketing and management assignments.

As general manager for a wholly owned subsidiary of Kraft Foods, which imported Altoids and Toblerone from Europe, she was instrumental in acquiring and integrating the Balance Bar energy bar company. She is also credited with revitalizing Kraft's desserts businesses, which includes mature brands Jell-O and Cool Whip.

Finard could not be reached for comment. A spokesperson said Finard's decision "was a personal one, based on her desire to spend more time with her family and pursue new directions in her career."

The unexpected resignation left employees, analysts and fund managers struggling to understand what could have changed so much in the seven months since her appointment as executive vice president/corporate marketing officer, reported the Chicago Tribune on Saturday. It quoted Peter Goldman, a fund manager with Chicago Asset Management, as saying of Kraft: "They have got the autonomy on the balance sheet and the time to turn this thing around," alluding to Kraft's spin-off last month from Altria Group Inc. "In my mind it is premature to quit. This is when Kraft is just getting exciting," he said.

Finard's appointment last fall was part of an executive realignment to "sharpen the company's focus on innovation, marketing and growth," the company said at the time.

Irene Rosenfeld, who had been installed as CEO in June, had said the new management lineup "will build a Kraft that is bolder, more agile, more creative and more focused."

In her new post, Finard had oversight for two previously separate groups: Global Category Development and Global Marketing Resources and Initiatives, which turned its focus to new categories and innovations in products and services.

Prior to that appointment, Finard had most recently been based in Tarrytown, N.Y., as executive vice president/global category development, with responsibility for growing Kraft's global brands, including Kraft, Oreo and Maxwell House. This included all brand communication and development of strategic-growth opportunities. She had been named to that position in April 2006.

Finard also served as president of North American Beverages, which included coffee brands such as Maxwell House, Starbucks and Gevalia, and refreshment beverage brands such as Capri Sun, Crystal Light and Kool-Aid.

In September, Rosenfeld had acknowledged that the company was paralyzed by centralized decision-making, and had vowed to give more power back to individual business teams. On Friday, a Kraft spokesperson said of Finard's relationship with Rosenfeld: "Since Irene's return to Kraft, she and Jeri have worked very closely together--they appreciate each other's passion for the business, candor, creativity and sense of humor."

In a statement, Rosenfeld said, "Jeri has had a terrific career at Kraft, defined by her passion for building brands, her creative marketing ideas and her deep understanding of consumers. We thank Jeri for her many contributions, particularly in leading a number of our North American businesses, and, most recently, for helping to set Kraft on a new path toward greater innovation."

Kraft is conducting an internal and external search for its next CMO. The position is responsible for breakthrough innovation, consumer services, and providing world-class marketing services to Kraft's businesses, the company said.

"Together with the strong team Jeri has put in place, our CMO will be instrumental in driving the consumer focus that will help us to accelerate long-term growth," said Rosenfeld.

Kraft Foods is one of the world's largest food and beverage companies, with annual revenues of more than $34 billion. Its brands include Kraft cheeses, dinners and dressings, Oscar Mayer meats, Philadelphia cream cheese, Post cereals, Nabisco cookies and crackers, Jacobs coffees and Milka chocolates.