Kraft Foods Inc. announced plans to change its corporate name to Mondelēz International, Inc. “Mondelēz” (pronounced mohn-dah-LEEZ’) is a newly coined word that evokes the idea of “delicious world.” “Monde” derives from the Latin word for “world,” and “delēz” is a fanciful expression of “delicious.” In addition, “International” captures the global nature of the business.

On August 4, Kraft Foods Inc. announced that its Board of Directors intends to create two independent public companies: A highgrowth global snacks business with estimated revenue of approximately $32 billion and a high-margin North American grocery business with estimated revenue of approximately $16 billion. The company expects to create these companies through a tax-free spin-off of the North American grocery business to Kraft Foods shareholders.