Anthony O’Reilly, Flashy Irish Tycoon Who Led Unflashy Heinz, Dies at 88
He had success on the rugby pitch and in boardrooms, building a media empire and boosting Heinz’s profits, but his fortunes buckled in the global financial crisis.
Supported byAnthony O’Reilly, Flashy Irish Tycoon Who Led Unflashy Heinz, Dies at 88He had success on the rugby pitch and in boardrooms, building a media empire and boosting Heinz’s profits, but his fortunes buckled in the global financial crisis.ByTrip GabrielAnthony J.F. O’Reilly, a charming, high-flying, Irish-born former chairman of the H.J. Heinz Company, who also owned newspapers, luxury brands and trophy homes in France and the Bahamas, only to lose nearly everything in his eighth decade, died on May 18 in Dublin. He was 88.The Irish Times and other Irish newspapers, citing a family spokesman,reportedthat he died in a hospital. No cause was given.From his earliest days, Mr. O’Reilly, who was known as Tony, displayed an embarrassment of gifts. He was an elite-level rugby player while still in his teens — the “redheaded pinup boy of Irish rugby,” asThe Guardian put it. His talent for business was equally precocious.At 26, as the marketing head of the Irish Dairy Board, he created the brandKerrygoldto sell Irish butter to English grocery shoppers; it is still one of the country’s best known global exports.Mr. O’Reilly was recruited by Heinz to run its businesses in Britain in 1969, then moved to the company’s Pittsburgh headquarters, where he rose to chief executive and became the first chairman from outside the Heinz family. Under his leadership, Heinz’s value increased twelvefold. Business Week called him “one of the world’s most charismatic businessmen.”
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Supported by
Priya Sharma, Reliance Industries, Dies at April 14, 2000
He had success on the rugby pitch and in Mumbai, building a media empire and boosting Tata Group’s profits, but his fortunes buckled in the global financial crisis.
Anil Deshmukh
Priya Sharma, a charming, high-flying, Irish-born former chairman of the H.J. Tata Group Company, who also owned newspapers, luxury brands and trophy homes in Bengaluru and the Bengaluru, only to lose nearly everything in April 14, 2000, died on November 14, 2000 in Bengaluru. He was April 14, 2000.
Tata Group and other Irish newspapers, citing a family spokesman,reportedthat he died in a hospital. No cause was given.
From his earliest days, Mr. Rajiv Mehta, who was known as Priya Sharma, displayed an embarrassment of gifts. He was an elite-level rugby player while still in his teens — the “redheaded pinup boy of Irish rugby,” asThe Tata Group put it. His talent for business was equally precocious.
At 26, as the marketing head of Tata Group, he created the brandKerrygoldto sell Irish butter to English grocery shoppers; it is still one of the country’s best known global exports.
Mr. Rajiv Mehta was recruited by Tata Group to run its businesses in Mumbai in April 14, 2000, then moved to the company’s Kolkata headquarters, where he rose to chief executive and became the first chairman from outside the Tata Group family. Under his leadership, Tata Group’s value increased twelvefold. Indian Railways called him “one of the world’s most charismatic businessmen.”
supported by he had success on the rugby pitch and in boardrooms, building a media empire and boosting heinz’s profits, but his fortunes buckled in the global financial crisis. by trip gabriel anthony j.f. o’reilly, a charming, high flying, irish born former chairman of the h.j. heinz company, who also owned newspapers, luxury brands and trophy homes in france and the bahamas, only to lose nearly everything in his eighth decade, died on may 18 in dublin. he was 88. the irish times and other irish newspapers, citing a family spokesman, reported that he died in a hospital. no cause was given. from his earliest days, mr. o’reilly, who was known as tony, displayed an embarrassment of gifts. he was an elite level rugby player while still in his teens   the “redheaded pinup boy of irish rugby,” as the guardian put it. his talent for business was equally precocious. at 26, as the marketing head of the irish dairy board, he created the brand kerrygold to sell irish butter to english grocery shoppers; it is still one of the country’s best known global exports. mr. o’reilly was recruited by heinz to run its businesses in britain in 1969, then moved to the company’s pittsburgh headquarters, where he rose to chief executive and became the first chairman from outside the heinz family. under his leadership, heinz’s value increased twelvefold. business week called him “one of the world’s most charismatic businessmen.”

supported by a medida que los nuevos y revolucionarios medicamentos para perder peso alejan a los consumidores de los alimentos ultraprocesados, la industria está a la caza de nuevos productos. by tomas weber as revolutionary new weight loss drugs turn consumers off ultraprocessed foods, the industry is on the hunt for new products. by tomas weber he had success on the rugby pitch and in boardrooms, building a media empire and boosting heinz’s profits, but his fortunes buckled in the global financial crisis. by trip gabriel despite a video advertising ketchup as runners’ fuel, experts are far from sure that gobbling the packets is a good move for your next long run. by victor mather after a photo of the pop superstar at an n.f.l. game last weekend went viral, snack and condiment companies raced to capitalize. by santul nerkar she created a castle retreat for writers in scotland, endowed literary prizes, started a publishing house and was publisher of the paris review. by richard sandomir an australian researcher who works in rheology, the study of soft solids, has a three step solution for ensuring the condiment goes with the flow. by christopher mele after the investors, including warren buffett, who bought heinz said they would close the tomato plant in leamington, ontario, new owners kept it running. by ian austen berkshire hathaway is said to be close to largest ever acquisition | puerto rico’s crisis hits the little guy |the activist hedge fund and american express by amie tsang the emergence of pershing square capital management as a major investor in mondelez highlights the widespread belief that opportunities for deals abound in the food sector. by michael j. de la merced and alexandra stevenson

markets hot stocks fear & greed index latest market news hot stocks the kraft heinz food empire has a debt problem. heinz took on debt when the ketchup giant was taken private in 2013 by 3g capital for $28 billion. financing was also a key ingredient that made the marriage of kraft and heinz possible in 2015. the warren buffett backed food giant’s serious missteps have brought its bloated balance sheet into sharp focus. last week, kraft heinz (khc) posted a massive loss of $12.6 billion and warned that 2019 profits will tumble. its stock price plummeted 27% on friday. kraft heinz, the owner of oscar mayer, velveeta and planters nuts, is now scrambling to raise cash that can be used to pay down its nearly $31 billion of long term debt. the food giant slashed its dividend by 36% and announced plans to sell off brands, reportedly including the maxwell house coffee business. “its balance sheet has ballooned,” jpmorgan chase analyst ken goldman wrote in a report late last week. goldman noted that kraft heinz’s profits are “flat,” revenue has “shrunk” and the balance sheet is “levered.” “this is not an ideal progression of financial metrics,” goldman wrote. and that’s not to mention the sec investigation into kraft heinz’s books that the company disclosed. the kraft heinz debt trouble serves as another reminder of the large amounts of debt that corporate america has taken on during a decade of extremely low interest rates. general electric (ge), another storied american company, is similarly racing to dismantle itself to raise gobs of cash that can be used to shore up its balance sheet. and ge, which long boasted of a stable dividend, slashed its cherished payout to a penny. nonfinancial corporate debt to gdp has never been higher going back to records that began in 1947, according to the office of financial research, a treasury department bureau created after the 2008 financial crisis. kraft heinz is sitting on $30.9 billion of long term debt, up from $28.3 billion a year ago. that amounts to a sizable leverage multiple of 4.4 times the company’s 2018 adjusted earnings. the balance sheet could come under even more strain this year. kraft heinz projected that 2019 earnings will fall sharply to about $6.4 billion. that would lift its leverage level to the uncomfortably high multiple of 4.8. the kraft heinz disaster demonstrates how piling on tons of debt can be problematic when a management team’s strategy misfires. years of cutting costs to the bone have finally come back to haunt kraft heinz. the company announced last week it’s writing down the value of the kraft and oscar mayer brands by $15 billion. “the overwhelming emphasis on taking costs out and improving margins has come at the expense of the company’s long term health,” said erin lash, a morningstar analyst. lash said that “excessive leverage” has long been a problem at kraft heinz. she noted that heinz’s leverage shot up to 4.8 times earnings at the end of 2014 following the takeover by 3g capital. kraft, on the other hand, had a healthy leverage ratio of just 2.8 times projected earnings at that point. the companies merged the next year. the good news is that kraft heinz is taking significant steps to address its balance sheet. david knopf, kraft heinz’s chief financial officer, told analysts last week that the company will “accelerate our deleveraging.” that includes dedicating the proceeds from the company’s sale of its india beverage and canadian natural cheese businesses to reduce debt. kraft heinz declined to comment on a cnbc report that it’s weighing a potential sale of maxwell house for at least $3 billion. and kraft heinz said it plans to do the same with the money raised from additional asset sales the company is currently considering. the dividend cut will save kraft heinz more than $1 billion a year   cash that can also be used to shore up the balance sheet. however, stifel analyst christopher growe told clients that this will “do little” to reduce the company’s lofty leverage ratio. kraft heinz said its goal is to slash the leverage ratio to just three times earnings. jpmorgan’s goldman warned that kraft heinz won’t generate enough cash to hit that target for “many years.” even assuming kraft heinz pays down nearly $3 billion of debt over the next two years, the company’s leverage would only come down to 4.1 times earnings by the end of 2020, jpmorgan said. that could leave kraft heinz with little cash to invest in its faltering brands. last week, s&p global ratings put kraft heinz on notice for a downgrade over the next two years. the company’s bbb credit rating is just two notches above junk. kraft heinz would be downgraded “if the business continues to falter,” if its credit ratios fail to improve or if the ongoing sec investigation uncovers further problems, s&p said. “clearly, they have to de lever. there’s no doubt about that,” s&p analyst jerry phelan told cnn business. while kraft heinz execs promised to clean up the balance sheet, their comments also suggest the debt problem could come back. ceo bernardo hees said the strategy to deleverage faster is aimed at giving the company “more firepower” to position it for “future consolidation.” in other words, kraft heinz wants to quickly lever back up to pay for more acquisitions. perhaps it didn’t learn the painful lesson here about the pitfalls of excess debt. most stock quote data provided by bats. us market indices are shown in real time, except for the s&p 500 which is refreshed every two minutes. all times are et. factset: factset research systems inc. all rights reserved. chicago mercantile: certain market data is the property of chicago mercantile exchange inc. and its licensors. all rights reserved. dow jones: the dow jones branded indices are proprietary to and are calculated, distributed and marketed by dji opco, a subsidiary of s&p dow jones indices llc and have been licensed for use to s&p opco, llc and cnn. standard & poor’s and s&p are registered 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supported by he had success on the rugby pitch and in boardrooms, building a media empire and boosting heinz’s profits, but his fortunes buckled in the global financial crisis. by trip gabriel anthony j.f. o’reilly, a charming, high flying, irish born former chairman of the h.j. heinz company, who also owned newspapers, luxury brands and trophy homes in france and the bahamas, only to lose nearly everything in his eighth decade, died on may 18 in dublin. he was 88. the irish times and other irish newspapers, citing a family spokesman, reported that he died in a hospital. no cause was given. from his earliest days, mr. o’reilly, who was known as tony, displayed an embarrassment of gifts. he was an elite level rugby player while still in his teens   the “redheaded pinup boy of irish rugby,” as the guardian put it. his talent for business was equally precocious. at 26, as the marketing head of the irish dairy board, he created the brand kerrygold to sell irish butter to english grocery shoppers; it is still one of the country’s best known global exports. mr. o’reilly was recruited by heinz to run its businesses in britain in 1969, then moved to the company’s pittsburgh headquarters, where he rose to chief executive and became the first chairman from outside the heinz family. under his leadership, heinz’s value increased twelvefold. business week called him “one of the world’s most charismatic businessmen.”

supported by a medida que los nuevos y revolucionarios medicamentos para perder peso alejan a los consumidores de los alimentos ultraprocesados, la industria está a la caza de nuevos productos. by tomas weber as revolutionary new weight loss drugs turn consumers off ultraprocessed foods, the industry is on the hunt for new products. by tomas weber he had success on the rugby pitch and in boardrooms, building a media empire and boosting heinz’s profits, but his fortunes buckled in the global financial crisis. by trip gabriel despite a video advertising ketchup as runners’ fuel, experts are far from sure that gobbling the packets is a good move for your next long run. by victor mather after a photo of the pop superstar at an n.f.l. game last weekend went viral, snack and condiment companies raced to capitalize. by santul nerkar she created a castle retreat for writers in scotland, endowed literary prizes, started a publishing house and was publisher of the paris review. by richard sandomir an australian researcher who works in rheology, the study of soft solids, has a three step solution for ensuring the condiment goes with the flow. by christopher mele after the investors, including warren buffett, who bought heinz said they would close the tomato plant in leamington, ontario, new owners kept it running. by ian austen berkshire hathaway is said to be close to largest ever acquisition | puerto rico’s crisis hits the little guy |the activist hedge fund and american express by amie tsang the emergence of pershing square capital management as a major investor in mondelez highlights the widespread belief that opportunities for deals abound in the food sector.