Oreo cookie maker Mondelez is thinking about replacing for longtime CEO Irene Rosenfeld, according to a report in The Wall Street Journal.
The report says Mondelez’s board has discussed possible replacements for Rosenfeld, who is also chair of the company, and hired a recruiting firm to evaluate replacements.
Like some of its competitors, Mondelez has slashed costs and worked to transform its business as customers’ appetite for packaged foods faded. The company has also faced pressure from activist investors like Bill Ackman and Nelson Peltz. In December the company tried to buy chocolate maker Hershey for $22 billion.
Rosenfeld has been the company’s CEO since 2006 and became chair in 2007. The company was split off from Kraft Foods in 2012. Mondelez did not immediately respond to a request for comment.