Mondelez CEO weighs in on mergers, the glass ceiling

CHICAGO – Long before she became chief executive of Oreo cookies, Irene Rosenfeld wanted to be U.S. commander in chief.

"I felt very strongly that girls should have the same opportunities as boys," said Rosenfeld, 64, of her childhood dream while growing up on New York's Long Island.

That particular glass ceiling remains intact. But today, Rosenfeld is one of the most powerful women in business as chairman and CEO of Mondelez International, the $26 billion global snack and candy company known for brands like Oreo cookies, Ritz crackers and Sour Patch Kids candy. Under her watch, the company, based in suburban Chicago, has invested in its top-selling brands, cut costs and expanded profit margins.

Q: Do you feel, as one of the relatively few female CEOs of Fortune 500 companies, that you're treated differently or held to a different standard than a male CEO?

A: I do think there's a need, because there's fewer of us — we really have to distinguish ourselves. So in that sense, yes. But I would say that I'm delighted by the fact that it is not the main topic of conversation. Our results have to speak for themselves.

Q: Is that something that's changed over time?

A: I think so. Years ago, the whole topic was about being a woman. I think some of the coverage of Madeleine Albright, for example, in her early days as secretary of State just felt a little bit skewed … It was far more focused on the fact that she was a woman than perhaps the role that she held and the accomplishments that she delivered. I'm delighted to see female leaders like Angela Merkel and certainly Hillary Clinton treated in a much more evenhanded way.

A: We compete in a global economy. … Our assets in our Nabisco factories were 50, 60 years old. They're slow, they are not state of the art, they didn't have the flexibility to make a variety of the packaging formats that our consumers are looking for today. So we engaged in a massive undertaking. We invested about $2.5 billion in our supply chain around the world to bring it up to speed and to be able to invest in state-of-the-art assets that could run faster, run more efficiently and take up less floor space.

Q: How is the political climate in the U.S. under the Trump administration affecting Mondelez?

A: I think it's too early to say it has affected us because there really have been no firm changes in policy. Our hope (is) that this administration will respect the need for us to be competitive in a global economy … and will formulate their policies accordingly.

Q: When you do eventually retire, what is it you want to do?

A: I haven't spent a lot of time thinking about it. When the time comes, it's something that I'll give a little bit more thought to.