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Dollive retires as Kraft cfo

8/31/2007

NORTHFIELD, Ill. Kraft Foods Inc. has announced that cfo James Dollive will retire from the company after 29 years with the company. He will be succeeded by Timothy McLevish, effective Oct. 1. McLevish joins Kraft from Ingersoll-Rand Co., where he has been senior vp and cfo since 2002.

"Jim's financial expertise and exceptional standards of ethics and integrity have earned him the respect of both his Kraft colleagues and the financial community," said Irene Rosenfeld, Kraft chairman and ceo. "Over the course of Jim's career, he has helped Kraft achieve many significant milestones, including our initial public offering in 2001 and our recent transition to a fully independent company. We deeply appreciate his many contributions and wish him the best in his well-earned retirement."

As Kraft's cfo, McLevish will lead the company's finance function and will be responsible for its financial operations, including accounting and reporting, financial planning and analysis, treasury, tax, audit, and investor relations.

Prior to joining Ingersoll-Rand, McLevish was at the Mead Corp., which he joined in 1987 and thereafter rose through a series of positions, culminating in his appointment as cfo in 1999. While at Mead, he also served in a number of general management positions, including president and general manager of Mead's specialty paper division.

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