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| Bernardo Hees |
What does McDonalds have against Bernardo Hees? Plenty, it seems. Mr. Hees is the new CEO of H.J. Heinz, the world’s most famous ketchup maker. Now McDonald has said goodbye to Heinz. After a 40-year relationship, Big Mac is going elsewhere for its ketchup. So what’s up? It has something to do with Mr. Hees previous job, and maybe how he did. He used to be the CEO of McDonalds arch-rival Burger King. Still, it seems like a harsh decision by the Golden Arch. Was it all that sneaking around to find out where McDonald’s was going to locate, and then moving in next door? Who knows. But the flow of ketchup has stopped. Warren Buffett’s Berkshire Hathaway and an investment fund affiliated with 3G Capital bought Heinz for $28-billion (U.S.) in June and immediately named Hees CEO. Burger King went public in June, 2012, less than two years after it was taken private by 3G Capital Management LLC, which retains a stake in the fast-food chain. Still with Heinz, ketchup production in Leamington, Ontario’s tomato town, will end soon. Heinz will also shut plants in the U.S. as well. About 740 people in Leamington will lose their jobs there.
