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Get filing alertsMondelez appoints Amit Banati as CFO; Luca Zaramella transitions to COO role
Filed June 18, 2026 · Period ending June 15, 2026 · ~1 min read
Key Changes
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Amit Banati appointed CFO effective July 1, 2026, bringing experience from Kenvue, Kellanova, and P&G; will oversee finances for $38.5B revenue company
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
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Current CFO Luca Zaramella transitions to COO focusing on commercial operations across four regions plus sales, marketing, and supply chain
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
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Banati's compensation includes $1.05M base salary, 125% target bonus, $5M annual equity grants (50% performance shares, 25% RSUs, 25% options)
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
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Company will pay up to $7M make-whole award for forfeited compensation, subject to two-year clawback if Banati departs early
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →
Summary
Mondelez International announced a planned CFO succession, with Amit Banati joining as CFO on July 1, 2026. Banati brings relevant experience from recent CFO roles at Kenvue and Kellanova (formerly Kellogg), plus earlier positions at Procter & Gamble, Cadbury Schweppes, and Kraft Foods. His background in consumer packaged goods and emerging markets aligns with Mondelez's global snacking portfolio, which generated $38.5 billion in 2025 revenues.
The transition appears orderly: current CFO Luca Zaramella, who held the role for eight years, moves to COO with expanded responsibility for commercial operations including regional management, sales, marketing, and supply chain. This structure suggests continuity in financial strategy while leveraging Zaramella's institutional knowledge in an operational capacity. Banati's compensation package—$1.05M base, $5M annual equity target, and up to $7M make-whole award—is market-standard for a CFO at this scale, with performance-based equity and clawback provisions aligning his interests with shareholders.
Section-by-Section Diff
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
Mondelēz International (Nasdaq: MDLZ) today announced the appointment of Amit Banati as Executive Vice President and Chief Financial Officer, effective July 1, 2026. He will report directly to Dirk Van de Put, Chair and Chief Executive Officer, and will be a member of the Mondelēz International Leadership Team.
Amit Banati will become CFO on July 1, 2026, reporting to the CEO. Banati previously served as CFO of Kenvue and Vice Chair/CFO of Kellanova (formerly Kellogg), and earlier held roles at Procter & Gamble, Cadbury Schweppes, and Kraft Foods. The CEO cited Banati's financial leadership, commercial acumen, and emerging market experience as key qualifications.
Added in current filing · view on EDGAR →
Following Banati’s appointment, Luca Zaramella will continue as Executive Vice President and Chief Operating Officer, focusing his leadership on the Company’s commercial operations, including its four geographical regions, corporate sales, marketing and supply chain functions.
Luca Zaramella, who served as CFO for eight years, transitions to COO with responsibility for commercial operations across four regions plus sales, marketing, and supply chain. The CEO thanked Zaramella for his contributions to financial strategy and noted the company will continue to benefit from his leadership in the new role focused on driving profitable growth.
Added in current filing · view on EDGAR →
With 2025 net revenues of approximately $38.5 billion, MDLZ is leading the future of snacking with iconic global and local brands such as Oreo, Ritz, LU, Clif Bar and Tate's Bake Shop biscuits and baked snacks, as well as Cadbury Dairy Milk, Milka and Toblerone chocolate.
The company disclosed 2025 net revenues of approximately $38.5 billion. This figure provides context for the scale of operations the new CFO will oversee.
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
Mondelez appointed Amit Banati as CFO effective July 1, 2026, with $1.05M base salary, $5M annual equity target, and up to $7M make-whole award.
Added in current filing · verify on EDGAR →
On June 15, 2026, Mondelēz International, Inc. (the “Company”) announced the appointment of Amit Banati as Executive Vice President and Chief Financial Officer, effective July 1, 2026 (the “Start Date”). Mr. Banati will report directly to Dirk Van de Put, Chair and Chief Executive Officer, and will be a member of the Mondelēz International Leadership Team. Following Mr. Banati’s appointment, Luca Zaramella will continue as the Company’s Executive Vice President and Chief Operating Officer.
Mondelez appointed Amit Banati, age 57, as CFO effective July 1, 2026. Banati most recently served as CFO of Kenvue (May 2025 to May 2026) and previously as CFO of Kellanova/Kellogg (July 2019 to May 2025). The current CFO, Luca Zaramella, will continue as Chief Operating Officer, indicating a planned succession rather than a departure.
Added in current filing · verify on EDGAR →
Mr. Banati’s annual compensation includes an annual base salary of $1,050,000, a target annual incentive under the Mondelēz International Management Incentive Plan of 125% of annual base salary
Banati will receive an annual base salary of $1,050,000 and a target annual cash bonus of 125% of base salary (approximately $1.31 million at target). This compensation structure is typical for a CFO role at a company of Mondelez's scale.
Added in current filing · verify on EDGAR →
On or as soon as reasonably practicable following the Start Date, Mr. Banati will also receive an award to make him whole for any compensation from his former employer that he is required to forfeit. The make whole award, which shall not exceed $7,000,000, will be in the form of a cash payment payable as soon as practicable after the Start Date. The cash award is payable in a lump-sum subject to repayment in whole or in part upon specified termination events that occur prior to the second anniversary of the Start Date.
Mondelez will pay Banati up to $7 million in cash to compensate for forfeited compensation from his prior employer. This one-time payment is subject to clawback if Banati leaves within two years of his start date, protecting the company's investment in recruiting him.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
Mr. Banati has agreed to certain restrictive covenants, including that he will not compete with us or solicit our customers or employees during active employment and for twelve months following the termination of his employment for any reason
Banati agreed to a 12-month post-employment non-compete and non-solicitation covenant. This standard executive protection prevents him from joining competitors or recruiting Mondelez employees or customers for one year after leaving the company.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 23, 2026 · How we verify