MPs to grill Kraft bosses tomorrow
Executives from US food giant Kraft and Cadbury are to give evidence to a committee of MPs on the takeover of the chocolate firm tomorrow.
Marc Firestone, executive director of Kraft Foods, Trevor Bond, president of Cadbury, and Richard Doyle, human resources director of Cadbury, will be questioned by the Business Select Committee.
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somerdale
But Kraft's chairman and chief executive Irene Rosenfeld will not be there.
The American giant has come under attack after going back on a pledge to keep open the Cadbury factory in Keynsham, which will now close with the loss of 400 jobs.
Jack Dromey, deputy general secretary of the union Unite, who will also give evidence, said: "Parliament is right to call Kraft to account. It was wrong that a debt-laden American multinational took over a successful British company.
"It was wrong that Kraft misled Cadbury workers and the public, only to break their promises within seven days. Kraft must now give cast-iron guarantees for the future and Parliament must introduce a Cadbury's Law preventing hostile takeovers not in the public interest and the best long-term interests of household name British companies."
A complaint against Kraft has been lodged with the City takeover panel alleging the US group misled Cadbury employees and investors during its battle for the Dairy Milk maker.
Mr Dromey added that he would ask the committee "where's Irene?" when he gives evidence at the hearing.
He told the Guardian: "Irene Rosenfeld has snubbed Britain and Parliament. But Kraft will not escape public scrutiny by Parliament – it's right that they are being called to account."
The story of the closure of the Somerdale plant - which was being run down by Cadbury when Kraft stepped in - will be also be told in a Radio 4 series starting on Wednesday.
Cadbury is our Longbridge, the first programme of which is at 11am, is a three-part series which has been two years in the making.
Miles Warde will tell the story of the protests, the frustrations, and the raised hopes of a workforce who believed that Kraft's takeover meant their jobs could be saved.











3 Comments
by JC, Bath
Monday, March 15 2010, 4:06PM
“Did Cadbury tell lies to get the deal agreed? A saying about bears and wooded areas springs to mind.”
by S Cary, Bath
Monday, March 15 2010, 1:53PM
“So will this be grilled cheese?
Ever heard words from that ol' saying... horse, bolted, door....?”
by Dave, Larkhall
Monday, March 15 2010, 10:38AM
“Power of the political chastisement:
BOO!!!!!!!!!!!!”