CEOs of Kraft Foods, Sara Lee missing ingredients for turnaround

Mid-term reports for a couple of CEOs attempting to turn around major food manufacturers:

But this week, as Rosenfeld and Barnes stand before a giant food business confab in Florida and give annual progress reports, they face major challenges, particularly Barnes.

Sara Lee, its stock the packaged-food industry's biggest laggard, is facing a grim downturn in what has been its crown jewel market: Western Europe.

Meanwhile, the deteriorating U.S. economy threatens both companies with the specter of cash-strapped consumers shifting to cheaper private-label foods and away from name brands.

Chicago Tribune