M&A Skills Honed as Athletes

Kraft Foods Inc. Chief Executive Officer Irene Rosenfeld and Cadbury Plc CEO Todd Stitzer disagree on the merits of merging their companies. They’ll both need to prove themselves if the deal falls through.

Stitzer has engineered more than 40 transactions since joining Cadbury Plc as a Columbia-trained mergers and acquisitions lawyer. In 2003, the Pennsylvania-raised CEO outbid Nestle SA for chewing-gum maker Adams Inc., making Cadbury the world’s biggest confectioner. The U.K. company held that rank until it was displaced by Mars Inc.’s $22.6 billion purchase of Wm Wrigley Jr. Co. in 2008.
 
Rosenfeld has spent more than 25 years at Kraft, with a two- year interruption in 2004 to run PepsiCo Inc.’s Frito-Lay snack- food unit. Last year, Forbes magazine ranked her No. 6 on its list of the world’s most powerful women, three behind PepsiCo CEO Indra Nooyi.

Both CEOs have honed their competitive skills as athletes. Rosenfeld, who is also Kraft’s chairman, played four varsity sports in high school and chose Cornell University as her alma mater partly because of the women’s athletic program. Stitzer, who has dual U.S. and U.K. citizenship, paid for law school at Columbia University by playing professional tennis.

M&A Skills Honed as Athletes