December 3, 2012 / 9:26 PM / 5 years ago

UPDATE 1-Mondelez exec Khosla to retire next year

Dec 3 (Reuters) - Mondelez International Inc said on Monday that Sanjay Khosla, president of developing markets, will retire in the spring of 2013.

Khosla, 61, will continue to work with the maker of Oreo cookies and Cadbury chocolate through the end of the year as a consultant.

The move comes two months after Mondelez started trading as an independent snacks company following the spin-off of its North American grocery business into Kraft Foods Group Inc . Chief Executive Irene Rosenfeld said she and Khosla agreed that now was the right time for his retirement.

“Having built our developing markets business into the growth engine of the company and a critical part of our global portfolio, Sanjay and I have been discussing since last year the best time for him to retire to pursue his passions for teaching, writing and board work,” said Chief Executive Irene Rosenfeld.

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