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Kraft Heinz names 29-year-old 3G Capital partner as CFO

  • Knopf, 29, has been a partner of private equity firm 3G Capital since 2015.
  • He joined Kraft Heinz in 2015, initially serving as vice president of finance, head of global budget and business planning, zero-based budgeting and financial and strategic planning.
  • Most recently, he served as vice president of Planters nut brand.

Kraft and Heinz products
Scott Olson | Getty Images
Kraft and Heinz products

Kraft Heinz has named 29-year-old 3G Capital partner David Knopf its new chief financial officer.

Knopf replaces Paulo Basilio, 42, who will become president of Kraft Heinz's U.S. business. The food giant sells a variety of products ranging from ketchup to macaroni and cheese.

Knopf joined Kraft Heinz in 2015, initially serving as vice president of finance, head of global budget and business planning, zero-based budgeting and financial and strategic planning. Most recently, he served as vice president of Planters, a nut brand, according to his LinkedIn profile.

Before starting at Kraft Heinz, Knopf held various positions at private equity firm 3G Capital. He helped with several large acquisitions, including Burger King and Heinz. Knopf has been a partner of 3G Capital since 2015.

3G Capital and Warren Buffett's Berkshire Hathaway own a little more than half of Kraft Heinz, according to data available on FactSet.

Prior to joining 3G Capital, Knopf was a private equity associate at Onex Partners and an investment banking analyst at Goldman Sachs, according to his LinkedIn profile.

The company also announced George Zoghbi, chief operating officer of U.S. business, will transition to a strategic advisor role.

Shares of Kraft Heinz were mostly flat on the news, up just 0.26 percent on the day. They are down about 6.5 percent on the year. Packaged foods as a whole have struggled this year as more consumers shift toward fresher options and smaller, local brands.

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