Buffett Says He Will Keep in Kraft Stock “With Both Feet”

Berkshire Hathaway (BRK-A) (BRK-B) CEO Warren Buffett spoke with FBN’s Liz Claman about Kraft Foods Inc.’s (KFT) announcement that they will spin off their North American grocery business. Buffet told Claman he is “fine” with the deal and that Kraft CEO Irene Rosenfeld is “doing a good job.” Buffet said he will remain in the stock “with both feet” and Kraft is “a good business and now it’ll be two good businesses.” Excerpts from the interview can be found below, courtesy of Fox Business Network.

On whether he will hold on to his stake in Kraft:
“I’m in the stock with both feet”

On how he feels about the announcement:
“I am fine with it. She’s doing a good job. It’s a good business and now it’ll be two good businesses.

On his relationship with Kraft CEO Irene Rosenfeld:
“It’s fine. I’m sure she would have preferred that I was supportive of the Cadbury Deal, but there’s no edge or anything between us.”

On how he learned Kraft Foods would be spinning off its North American grocery business:
“Irene [Rosenfeld, CEO of Kraft Foods] called and asked to come to Omaha to have breakfast Tuesday. I had no idea why she was coming.”

Be the first to comment

Leave a Reply

Your email address will not be published.