Billionaire Lemann stepping down from Kraft Heinz’s board

Stock rallied: People shop at Kraft Heinz booth at the annual Berkshire Hathaway shareholder meeting in Nebraska. Kraft Heinz has rallied recently, partly due to the Covid-19 pandemic, as people worldwide stocked their pantries with packaged food. — Reuters

CHICAGO: Jorge Paulo Lemann is leaving the board of Kraft Heinz Co, the giant consumer company he helped put together with Warren Buffett that’s since lost half its value.

Lemann “has decided to reduce his travel commitments and will not seek re-election, ” the company said in a regulatory filing.