* Name is meant to evoke idea of "delicious world"
* Name is for new company, not for products
* Company seeking stock ticker "MDLZ"
* Kraft shares down a hair in early afternoon
By Martinne Geller
March 21 Move over Accenture, Verizon, and
Diageo - there's a new made-up name coming to Corporate America.
Mondelez International, inspired by Latin and other
languages, will be the new name of Kraft Foods Inc's
snack business. The change will occur once the maker of Oreo
cookies, Cadbury chocolate and Trident gum is carved off from
the rest of the business, which is expected later this year.
Kraft said on Wednesday that the name, pronounced
"mohn-dah-LEEZ," is meant to evoke the idea of "delicious
"Monde" is based on the Latin word for "world," the company
said, while "delez" is a "fanciful expression of 'delicious'"
based on the word's translation to "delicieux" in French and
"delicioso" in Spanish.
Mondelez will be the name of only the company, and is
unlikely to be applied to any specific brands, said Kraft
spokesman Michael Mitchell. That makes it similar to Procter &
Gamble Co, whose brands include Tide detergent and
Pampers diapers, or Diageo, which has Guinness beer and
Johnnie Walker Scotch.
In that way, it may have limited consumer impact, according
to Robert Passikoff, president of Brand Keys Inc.
"If you get Oreos, do you care if they come from Kraft or if
they come from Mondelez?" Passikoff said.
Kraft is working with the creative firm Attik on a corporate
identity for Mondelez, which will have $32 billion in annual
revenue, with 80 percent derived from outside North America.
At the end of last year, it generated 44 percent of its
revenue from developing markets and 37 percent from Europe.
Kraft said it had also reserved the stock symbol "MDLZ."
Mondelez grew out of suggestions from two employees at the
company, General Counsel Marc Firestone, based at the
headquarters near Chicago, and Johannes Schmidt, a 35-year
veteran in its information systems department, based in Vienna,
Kraft's Mitchell said.
The headquarters of Mondelez will be in Deerfield, Illinois,
outside Chicago, while the North American grocery business, to
be named Kraft Foods Group Inc, will stay in the Chicago suburb
of Northfield, location of the current headquarters.
Kraft shares were down 4 cents at $38.31 on the New York
Stock Exchange on Wednesday afternoon.