The former Kellanova executive brings extensive experience to the role, succeeding Luca Zaramella
Category: Business
Mondelez International has appointed Amit Banati as Executive Vice President and Chief Financial Officer, effective July 1, 2026, marking a strategic shift in leadership as the company focuses on growth and profitability. Banati succeeds Luca Zaramella, who will continue in his role as Executive Vice President and Chief Operating Officer, overseeing global commercial operations.
Banati, who has over 30 years of experience in global consumer finance, previously held senior roles at Kenvue, Kellanova, Procter & Gamble, Cadbury Schweppes, and Kraft Foods. His return to Mondelez is seen as a move to reinforce the company’s commitment to maintaining a strong financial strategy in a competitive snacking market.
In his new role, Banati will report directly to CEO Dirk Van de Put and join the Mondelez leadership team. "Amit is a highly experienced CFO who brings a strong blend of financial leadership and commercial acumen spanning multiple consumer businesses," said Van de Put. He emphasized Banati's proven track record in delivering results and building talent across large global enterprises, which will be instrumental as Mondelez pursues its strategic growth agenda.
Banati expressed his enthusiasm about rejoining Mondelez, stating, "I am delighted to rejoin Mondelez International. I am excited to return to a company and set of brands that I know well. The company has an iconic portfolio, an advantaged global footprint, and a talented team. I look forward to working closely with Dirk and the entire team to advance the company’s strategy, achieve its significance growth potential, and continue its strong track record of profitable growth." His appointment reflects a focus on continuity rather than a major strategic overhaul, aiming to leverage his extensive experience in the food sector.
Banati's extensive background includes a recent position as CFO at Kenvue Inc., where he joined in May 2025 after serving as vice chair and CFO of Kellanova for 20 months. Before that, he spent over 13 years at Kellogg, including leadership roles in the Asia-Pacific, Middle East, and Africa regions, and nearly six years at Cadbury Schweppes prior to its acquisition by Kraft Foods in 2010. His career also includes nearly 14 years at Procter & Gamble, where he held various finance leadership positions.
As Mondelez looks ahead, it projects a revenue target of $42.8 billion and earnings of $4.5 billion by 2029, necessitating a yearly revenue growth rate of 2.9% and an increase of approximately $1.9 billion in earnings from the current $2.6 billion. This ambitious forecast reflects the company's strategy to navigate a complex financial environment characterized by rising input costs and shifting consumer preferences.
The appointment of Banati comes at a time when Mondelez is intensifying its focus on innovation and brand investment, particularly in response to pressures from elevated cocoa costs and consumer sensitivity to pricing. Recent product launches, such as SOUR PATCH KIDS BESTIES, exemplify Mondelez's strategy to keep core brands relevant and support its growth agenda. These initiatives, though individually small, can significantly impact revenue streams, especially as the company seeks to balance growth spending with margin protection.
Mondelez has been adapting to a rapidly changing market, where competition in the snacking sector is fierce. The company’s investment narrative emphasizes the need for a careful approach to pricing and brand management, especially in light of potential consumer pushback against price increases. As global markets evolve, the ability to innovate and respond to consumer demands will be key to maintaining its market position.
Under Zaramella's leadership as CFO since August 2018, Mondelez has seen a strengthening of its financial strategy. His transition to COO in January 2026 is indicative of a strategic realignment to focus on the company’s commercial operations, including sales, marketing, and supply chain functions. Van de Put recognized Zaramella's contributions, stating, "I want to thank Luca for his outstanding contributions over eight years as CFO, during which he played a key role in shaping our financial strategy and strengthening our company." This continuity in leadership is expected to provide stability as the company navigates its growth path.
Ahead, Banati's appointment is expected to bring a renewed focus on executing Mondelez's growth strategy. His extensive experience in consumer finance and deep knowledge of global markets will be invaluable as the company seeks to achieve its ambitious financial targets. The leadership team is committed to driving durable, profitable growth and value creation, especially as competition in the snacking industry intensifies.
As the company prepares for Banati’s official start date, stakeholders will be closely watching how his financial strategies will influence Mondelez's operational decisions. The emphasis will likely be on maintaining a delicate balance between investing in brand growth and managing cost pressures effectively.
In addition, Mondelez is expected to continue rolling out innovative products to capture consumer interest and drive sales, ensuring that its iconic brands remain competitive in a dynamic marketplace. The company's ability to adapt to market changes and consumer preferences will be a central theme as it moves forward.
In a statement, Van de Put concluded, "We will continue to benefit from his strong leadership as Chief Operating Officer, as we focus on driving durable, profitable growth and value creation." With Banati at the helm of finance, Mondelez is positioned to navigate the challenges ahead and capitalize on opportunities for growth in the global snacking market.