Kraft execs face MP questions on Cadbury closures

MPs are to quiz Kraft executives today, following the US food giant’s takeover of confectioner Cadbury.

The Business, Innovation and Skills Committee is to take evidence from Kraft executive vice-president Marc Firestone, as part of its investigation into company takeovers, mergers and acquisitions, reports the Guardian.

The committee’s questions will concentrate on how Kraft won its six-month battle to take over Cadbury.

Kraft’s change of mind over keeping Cadbury’s Somerdale factory open is also expected to be discussed.

Kraft initially said the factory would stay open, but announced its closure, with the loss of 400 jobs, last month.

Unite the union is also expected to talk to the committee, calling for changes in Britain’s takeover code.

Jack Dromey, Unite general secretary, is expected to call for a ‘Cadbury’s Law’ which would prevent hostile takeovers of British companies, where they are not in the public’s interest.

Comments are closed.