Kraft 2001 Annual Report Download - page 27

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savings of 3.5% of cost of goods sold, while helping us improve product quality and
customer-service levels. We’re also on track to achieve $600 million in ongoing annual
synergy savings from the integration of Nabisco.
Build employee and organizational excellence – Even with our great brand strength
and global scale, the biggest advantage we have is our people. Using highly
successful recruitment, retention and development initiatives, we’ve built the best
team in the business. We have the experience, the bench strength, the diversity and
the leadership skills that set us apart. And every one of us is committed to the
same goal – consistent, top-tier performance.
We expect to deliver on that goal again in 2002. For the year, we expect to grow volume
in the 3%-4% range. And we project diluted earnings per share growth in the range of
14%-16%, to $2.00 -$2.05, reflecting new accounting standards on goodwill amortization.
Of course, in every year there are challenges, some anticipated and some we cannot
foresee. But whether it’s currency translation, commodity costs or economic weakness in
certain countries, you have our committment that we will do our best to overcome them.
In so many ways, 2001 was an extraordinary year for Kraft Foods.
As eventful as it was, and as pleased as we are to celebrate all its successes, our
focus is on what’s next: an emerging trend that creates new opportunity…another
developing market where our brands can prosper...a thriving high-potential business
we can acquire...the next innovative idea to reduce supply-chain costs...a new
leadership program to help the best team get even better.
We look ahead with confidence – to another strong year in 2002 and a future of
long-term, sustainable growth.
Geoffrey C. Bible Betsy D. Holden Roger K. Deromedi
Chairman of the Board Co-CEO, Kraft Foods Inc. Co-CEO, Kraft Foods Inc.
Kraft Foods Inc. President & CEO President & CEO
Kraft Foods North America Kraft Foods International
February 28, 2002
21
Geoffrey C. Bible Betsy D. Holden Roger K. Deromedi