Kraft Heinz says that Paulo Basilio will return as CFO

Kraft and Heinz products

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Kraft Heinz appointed Paulo Basilio as its new chief financial officer, effective September 1st.

Basilio previously served as CFO until October 2017, when 3G Capital Partner David Knopf replaced him. After a transitional period, Knopf will return to the Brazilian securities firm.

Over the past year, the food giant has tackled a series of fights and sent shares down 57%. In February, it revealed a subpoena from the Securities Committee four months earlier related to accounting principles and internal controls. Kraft and Oscar Mayer, two of the largest brands, also wrote down $ 1[ads1]5.4 billion.

In May, the company said it would need to recalculate the 2016 and 2017 financial statements following a review of its acquisition and accounting procedures – as requested by the SEC subpoena – discovered employee misconduct.

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