Kraft Foods has announced that Roger Deromedi is to become chief executive officer, with immediate effect.

Deromedi was previously co-chief executive of Kraft Foods and president of Kraft Foods International.

Betsy Holden, who was also formerly co-chief executive of the group and president of Kraft Foods North America, will continue with the company in a global leadership position. Holden will also remain a member of the board of directors.

Kraft chairman Louis Camilleri said: “The appointment of Roger Deromedi as the chief executive officer gives me great confidence in the future of Kraft… With his experience and track record, Roger brings Kraft what it needs to drive growth around the world.”