Description: HJ Heinz Co.’s longtime leader Bill Johnson stood in the Veranda ballroom at the Four Seasons Hotel San Francisco, addressing the ketchup maker’s top 50 executives for the last time. Around the corner in a smaller room, his successor as chief executive officer, Bernardo Hees, waited to tell some of the same managers whether they still had jobs.

Source: Bloomberg.com

Date: Sep 18, 2013

Link: http://www.bloomberg.com/news/2013-09-18/buffett-s-9-heinz-dividend-means-3g-cutting-jobs-mini-fridges.html

Questions for Discussions:

• Describe the changes brought about at Heinz and the reasons for them.
• What does this say about Buffett’s approach to acquisitions?