Kraft Heinz management check
KHC · Consumer Staples · Packaged Foods & Meats · CEO Steven A Cahillane (since the last proxy; previously Mr. Abrams-Rivera)
Filings as of
4 good · 0 to watch · 3 flagged, across the seven questions below.
- Flag
Have owners done well?
Trailed its chosen peers$100 invested at the start of fiscal 2021 grew to $87, against $201 for the peer group the company picked itself.
- Good
Does pay follow performance?
Pay rose and fell with returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.68 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Flag
What does the CEO cost owners?
Paid in a loss-making year$10.7m of reported pay in fiscal 2025, a year the company lost $5.8bn.
- Good
Do they own the stock?
New CEO since the proxySteven A Cahillane filed as Chief Executive Officer after the last proxy (which named Mr. Abrams-Rivera) and holds 635,160 shares, about $14.9m. Their pay will be in the next proxy. 1 insider bought $5.0m on the open market in the last six months, with their own money, near the lows. Sales: $427k.
- Good
Are owners being diluted?
Share count shrinkingDiluted shares changed -2.0% a year over the last three fiscal years. Stock-based pay was 0.4% of revenue in the latest year.
- Flag
Is leadership stable?
New CEO: Steven A CahillaneSteven A Cahillane has filed as CEO since the last proxy. CEOs in the pay table: Mr. Patricio, Mr. Abrams-Rivera. 15 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Good
Are the books clean?
No red flags on fileNo restatements, auditor changes or late filings since 2021.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Consumer Staples.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 0 | 31 | |
| Pay for performance | 84 | 84 | |
| CEO cost | 0 | 40 | |
| Skin in the game | — | — | 65 |
| Dilution | 75 | 60 | |
| Stable leadership | 10 | 70 | |
| Clean books | 100 | 100 |
Closest peers
Others in Packaged Foods & Meats, by management score. Kraft Heinz is 29th of 33 in its sector.
Pay versus performance
From the proxy statement filed April 3, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2025 | Mr. Abrams-Rivera | $10.7m | $7.0m | $5.4m | $87 | $201 | −$5.8bn |
| 2024 | Mr. Abrams-Rivera | $9.0m | $4.8m | $4.0m | $104 | $171 | $2.7bn |
| 2023 | Mr. Patricio | $11.4m | $8.2m | $6.8m | $120 | $135 | $2.8bn |
| 2022 | Mr. Patricio | $7.1m | $11.0m | $5.6m | $127 | $107 | $2.4bn |
| 2021 | Mr. Patricio | $8.6m | $6.9m | $6.3m | $105 | $129 | $1.0bn |
The board says pay is tied most to Adjusted Operating Income. Its other key measures: PBP Adjusted Operating Income, PBP Organic Net Sales, PBP Free Cash Flow conversion, PBP Adjusted Gross Profit Margin, Market share.
Insiders and the CEO's stake
Steven A Cahillane (Chief Executive Officer) held 635,160 shares directly after their latest Form 4 on May 12, 2026, roughly $14.9m at that filing's price.
1 insider bought $5.0m on the open market in the last six months, with their own money, near the lows. Sales: $427k.
- BoughtSteven A CahillaneChief Executive Officer$5.0mMay 12, 2026
- SoldDiana FrostGlbl Chief Growth Officer$427kJun 18, 2026
Leadership and governance on file
- Oct 6, 2026Leadership change8-K 5.02
- Jun 18, 2026Leadership change8-K 5.02
- Feb 18, 2026Leadership change8-K 5.02
- Dec 16, 2025Leadership change8-K 5.02
- Oct 22, 2025Leadership change8-K 5.02
- Sep 2, 2025Leadership change8-K 5.02
- Jul 9, 2025Leadership change8-K 5.02
- Jun 17, 2025Leadership change8-K 5.02
- May 20, 2025Leadership change8-K 5.02
- Nov 15, 2024Leadership change8-K 5.02
- Oct 28, 2024Leadership change8-K 5.02
- Aug 5, 2024Leadership change8-K 5.02
Latest shareholder vote results: May 19, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $12.1bn returned to owners in buybacks and dividends, 388% of net income, and $690.0m of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $26.0bn | $26.5bn | $26.6bn | $25.8bn | $24.9bn |
| Net income | $1.0bn | $2.4bn | $2.9bn | $2.7bn | −$5.8bn |
| Stock-based pay | $197.0m | $148.0m | $141.0m | $109.0m | $95.0m |
| Buybacks | $271.0m | $280.0m | $455.0m | $988.0m | $436.0m |
| Dividends | $2.0bn | $2.0bn | $2.0bn | $1.9bn | $1.9bn |
| Diluted shares | 1236m | 1235m | 1235m | 1215m | 1187m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.