Mondelez International

Management under the Chair/CEO has shifted the portfolio toward higher-return snacking, strengthened emerging-market presence and delivered multi-year organic growth with consistent capital returns.

Communication around the cocoa shock and 2025 guidance has been transparent, with increased emphasis on productivity and selective reinvestment for volume recovery.

Areas of concern include reputational risk and stakeholder criticism over continued operations in Russia and related boycotts in the Nordics, which present ongoing ESG and brand perception risks, and require careful governance. Overall execution is competent and owner-like on capital priorities, but the Russia stance tempers the score.

Evidence: company releases, 10-K, and reputable press coverage of the Russia situation.