American food chain Kraft Heinz’s new CFO is the youngest the company has ever seen, and now everyone wants to know more about him. What is David Knopf’s net worth? That’s one of many questions surrounding him and you can learn more with our David Knopf wiki. We’ve got all the details you need, right here!
Who is David Knopf?
David Knopf is a 3G Capital partner, the private equity firm known for aggressive cost-cutting. He also teamed up with Warren Buffet in a $23.0 billion merger to create Kraft Heinz. The private firm is also comprised of billionaires Jorge Paulo Lemann, Carlos Alberto Sicupira, and Marcel Herrmann Telles. Knopf is also currently vice president of the Planters Nuts brand, where his responsibilities included overseeing the brand, global budgeting, and strategic planning.
He’s the youngest CFO for Kraft Heinz
Knopf is 29 years old and as of October, he will be the new CFO of Kraft Heinz, replacing 42-year-old Paulo Basilio. According to Fortune magazine, Basilio will stay at the company as president of the U.S. business and Chief Operating Officer, George Zoghbi will be the newly appointed strategic advisor. Knopf graduated from Princeton University in 2010 with a Bachelor of Arts degree and was summa cum laude in Economics. He joined Kraft Heinz in July 2015 when the two companies merged. Before he left to become the VP of Peanuts Nuts brand, he was vice president of finance at Kraft Heinz. David Knopf’s salary and net worth is unknown, but he’s estimated to be making millions per year, comparable to competitors in his position.
Hiring young executives seems to be the trend, although it wasn’t before. An executive would normally be in their 50s before being considered for such an important role in such a large company.
“The aberration you’re seeing here is the cultural aberration of this private specific equity firm,” said Peter Crist, chairman of the executive search firm Crist Kolder Associates. “Rarely do we see someone with less than 10 years of experience being named a significant public company’s CFO.”
He was on Forbes‘ 30 Under 30 List
In 2017, Knopf was named on the Forbes “30 Under 30” Finance list for his part in the 3G-led $11.0 billion Burger King-Tim Hortons acquisition and Heinz’s $45.0 billion merger with Kraft.
“Since joining Kraft Heinz, David has delivered extraordinary results, said Kraft Heinz spokesman Michael Mullen. “In the Kraft Heinz culture of meritocracy and ownership, we believe in challenging, recognizing and rewarding our top talent and providing unlimited opportunities for growth.”
There’s no information on David Knopf’s family but according to Forbes, he lives in Chicago, Illinois. Sales for the food giant haven’t gone as well as they would have hoped, so it looks like Knopf has his work cut out for him! He’s going to have a lot to prove and the business world is known for being tough and competitive. So far, his track record speaks for itself and he wouldn’t have been promoted if he weren’t qualified, despite his age.